IMO another announcement that includes absolutely no new information in it. As a public company does one really have to dress up the importance of a "workshop"?
More of the same "advanced and positive discussions are continuing........"
Two things that are clear though, the much touted "US roadshow has come and gone" with no buying interest to emerge in any material way. This must have happened prior to this week as the workshop in Tanzania was held on the 26th January and since Trevor has been to London, NY and back through South Africa. In between time the stock has traded at its lowest point in almost a year.
There was no new presentation released to market as is the case with most road shows so I'm very surprised at how little fanfare was made about this?
And further "assurances" about the cash position IMO tell me the company is well aware of the markets realization that a CR is imminent.
The company has been spending close to $1 million per month and this quarter at its reduced spending rate it will still spend $550k per month (if they achieve budget) so I don't think the $230k R&D grant is going to go very far, in fact IMO its basically immaterial in the overall scheme of things.
VRC Price at posting:
4.4¢ Sentiment: None Disclosure: Not Held
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