Most shareholders were of the belief that the DFS announcement, and the subsequent positive articles in the news and on investor websites, would see a nice rise in the sp. TM even made another cameo performance on an investor update video! But alas, the sp has actually fallen!!!
The quarterly report was also expected to bolster shareholder and investor confidence, but to no avail!
TM stated that further news will be announced soon about more orders in China, but does the market care?
With the Mining Licence still 3, 6 or more months away, the $40m funding prospectus is still months away from being made available, and uncertainty about other company and mine issues lingering on, the Market remains, nervous, sceptical and lacking confidence in the company!
As you have cited the cash burn rate remains high, so a further dilution may be necessary?
So, whilst the announcements appear to show that VRC is on the right track, they've been on that same jolly slow train to the Bunyu mine for over 18 months now! The shareholders are restless and the Market has given up waiting!
There may be more sp pain ahead for shareholders??
TM's spin is not being believed by the Market any more! His timelines are a waste of time! The sp is precarious! The Tanzanian Government is in no hurry to grant mining licences! There is absolutely no guarantee that the $40m needed for the mining to begin, can actually be raised! Cash burn remains high! And above all, the Market has totally lost interest in VRC!
Is there anything that can keep the sp from falling even more???
VRC Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
