Well there Winnie, you obviously haven't been around companies...

Well there Winnie, you obviously haven't been around companies and mining companies very much!

“How People think it's possible to negotiate financing from a position of weakness like this is beyond me.”

For posters to state that VRC's financial position is totally disastrous is rubbish! VRC is expecting up to $4.8 million from the conversion of their options by mid-December. Their current debt is $1m. Surely even you can work out that equates to a surplus!

There are dozens and dozens of companies that are billions of dollars in debt, or hundreds of millions of dollars in debt, but which still manage to get extra funding! There are mining companies that take on massive amount of debts to build their mines and processing plants, and then pay that debt out of the yearly profits made.

Here's just a few in only 15 seconds of Google research!
"At the beginning of 2015, Barrick Gold was some $13 billion in debt. The company announced plans and currently says that it's on track to reduce that debt by $3 billion by the end of the year. Part of the plan included a $1.15 billion buyback of its own debt."

"Glencore, the world’s largest publicly traded commodities supplier, is even deeper into debt. The company had $31 billion of net borrowings and $53 billion of gross debt at the beginning of the year — 2.4 times adjusted earnings."

"Freeport McMoRan, one of the world's largest producers of gold and copper, it is still just under $19 billion in debt and has one of the highest debt-to-equity ratios in the mining industry right now."
MNS has currently $7m in cash. How is it going to fund a $300 million mine development? By getting funding and taking on debt! Same with WKT, which I believe doesn't currently have much cash available at all?

None of the Graphite companies, MNS, BKT and WKT have enough finances to construct their own mines, all of them are going to be taking on debt, perhaps up to $300m, to build their mines!

VRC's financial position is certainly not the best, but those posting how disastrous it is, should look at other companies that carry up to $50 billion of debt! A $1m debt is nothing in the mining game and especially with a potential for $4.8m to come in from the conversion of the options. That being said, VRC needs to secure some funding and the sooner that it does the better!

With the potential for a very profitable mine, with a rising demand for Graphite being in the order of amounts needed that we just can't comprehend, with 100 to 200 battery gigafactories needing to be built by 2035 to service the EV industry and the grid, home and business solar electricity storage industry, it seems utterly incredulous that VRC would not be able to at least get some reasonable Graphite sales from this demand!

But it all starts by VRC getting some extra finance, and if it does, what a massive boost to the sp that will be!