Ann: Quarterly Activities and Cashflow Reports, page-22

Some of what Hula brings up, may have  some relevance, just not over and over. The possibilities are endless, positive and negative.
Looking on the bright side of life.
IMO. Financing could come for stage 1 from the signing of  a BOA with CNBMGM.
"Agreement intends that CNBMGM become a potential graphite product
customer, as well as providing project engineering/construction support and facilitate the
provision of project finance and credit insurance for Stage 1 and Stage 2 of the Namangale
project."
"Volt and CNBMGM will also jointly prepare the required documentation for project finance and
credit insurance through Sinosure within the first three month period following the signing of the
agreement."
" Volt will deliver up to one tonne of Namangale graphite concentrate
to CNBMGM to enable product trial tests to be conducted."

With the use of $763,000 evaluation and exploration,
this may Imo have already have been processed through a 3rd party.
Could also partly be extraction of 1000 tonnes.
"An extraction site has been selected with earthmoving and logistic companies engaged to facilitate the transfer of this ore parcel to our partner, Aoyu."

I'm waiting on
Passing of ESIA & RAP.
Granting of Mining License.
Detailed Stage 1 Feasibility Study.
Signing of BOA CNBMGM (& Sinosure).
Signing BOA AOYU.
Signing BOA GEM.
All in the next 2-3 Months.
Fun fun fun...

As far as, @WW. "As I've said before IMO the numbers don't quite stack up here, never have, never will.  Haven't seen Mining Corporate (Steve Brockhurst) quit too many jobs either but I stand to be corrected."
Imo, not so sure Steve Brockhurst quit (asked to stay for an agreed period), was politely asked to resign (asked to stay for an agreed period) or something else with a far bigger outlook.
I do find it interesting that the day after Trevor Matthews is official CEO Jan 1st 2017, Jan 2nd 2017 Steve Brockhurst becomes Company Secretary for Estrella & MELP. ( make your own assessment).

Looking on the bright side of life, I'm not one to burn bridges.
What if these directors think much bigger than most. (not just, now, now, i  want it now)?
Graphite established and China on the list.
What in the grand scheme of things would compliment graphite really well? Lithium might work.
VRC may well have 2 already established relationships in lithium, one with S. B. in MELP WA. OZ and the other with S. H. in Borate & lithium in US.

It's going to be a very tell-tale quarter thru the end of October for me here and elsewhere.
Time to take my perch.






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