"World stocks declined in their biggest two-day dive in 16...

"World stocks declined in their biggest two-day dive in 16 months!" from the Sydney Morning Herald today.

ASX down 28 points at time of writing. This is not helping our cause!

Volt's report was informative and shows steady progress is being made, but it was not a startling announcement. And the cash outflow remains high. Staffing and administration costs do appear to be high.

The buying strength has dropped, and it will be interesting to see if the sp holds at 3.5c or higher, or falls to around 3.1c? What is the market’s reaction to VRC’s report going to be?


Quarterly Cash outflow:
Exploration & evaluation: $1,292,000
Staffing costs: $646,000
Administration and corporate costs: $769,000
Cash outflow: $2,717,000
Cash Remaining: $4,128,000 (January 31st)

Convertible loan facility:
Drawn down: $506,000
Balance: $494,000

Radium Capital loan
Drawn down: $493,000
Balance: $0

Next quarter's estimated cash outflow is also high at $1,629,000. Comprising:
Exploration and evaluation: $1,646,000
Staff costs: $405,000
Administration and corporate costs: $559,000
Inflow, from options fully underwritten: $981,000
Total cash outflow: $1,629,000
Cash remaining estimate: $2,499,000 (April 30th)

In fact, that next quarter's estimated cash outflow would have been $2,610,000 without the cash inflow from the underwritten options. So, if that burn rate continues in the 3rd quarter of this year, VRC may have zero cash, $0, around July 31st!

Just shows how important the success of the bond issue is!