Ann: Placement raises A$2 million, page-110

I dont think its fair just yet to throw the baby out with the bath water. Our baby, ofcoarse, is an ore reserve larger than Syrah's, although their resource is larger. Its comforting to know also our chairman has alot of skin in the game, and our directors have previously bought on market. The latest raising was done I believe to pay back the convertible note and save on interest, and for those that actually read the financials our corporate and admin costs are coming down.

To Quote Peliatan:
"you have never once tried to substantiate your statements, such as today...do you really think $2.4 million for Q1 central office costs and salaries at VRC has been good value for investors for what they haven't achieved in all this time?"

Below are financials from the Quarterlies;
Q1 FY18 Operating expenses from the financials supplied: Staff Costs $266k, and Admin & Corporate $355k
Q2 FY18: Staff Costs $646k, Admin & Corporate $769k
Q3 Fy18: Staff Costs $454k, Admin & Corporate $599k
Budgeted Outlay for Q4 FY18: Staff Costs $324k, Admin & Corporate $258k

Please refer to quarterlies dated 31/10/17, 31/01/18 and 30/04/18 respectively