VRC (ASX) Ann: Quarterly Activities and Cashflow Reports

Originally posted by Caoimhin: ↑

I read the comments above first then I read the report and I'm convinced the people complaining haven't read the report or don't understand the timeline or details of what's in the report.

The acquisition was locked in on the 27th July 2021 the report details up to the 30th September 2021? That's approx. 2 months? People are saying the sky is falling in on Volt because of what's been achieved in 2 months??? Nonsense stupid talk.

Key points to note:

FIRST:

"Following a lack of investment in the business by the previous owners, recent periods of graphite oversupply and reduced product sales in Europe in 2020 due to COVID restrictions, the ZG business is operating at well below nameplate capacity. "

This is a turnaround opportunity that's why Volt got it at the price it did, we knew this but that's not the most important part of this paragraph this is:

"Volt plans to improve the performance of the business with close attention to improved environmental management and sustainable operations including programs to minimise the operation’s carbon footprint, development of stakeholder relationships and social investment combined with improved governance throughout ZG."

If you're not already across this look it up because it should be driving all your investment decisions for the next 10 years.......ESG!!

"Environmental, Social, and Corporate Governance (ESG) is an evaluation of a firm’s collective conscientiousness for social and environmental factors. It is typically a score that is compiled from data collected surrounding specific metrics related to intangible assets within the enterprise. It could be considered a form of corporate social credit score. Research shows that such intangible assets comprise an increasing percentage of future enterprise value" - WIKIPEDIA

ESG is all that matters in Europe right now and its all that matters in the EV Supply chain, if your business is not addressing it or in the process of implementing it you're dead in the Water no one will touch you. This must be addressed and implemented immediately by Volt & ZG hence the recent webinar "E" in "ESG"

NEXT:

"Post Acquisition ActivitiesSince the acquisition settlement date on 27 July 2021, Volt has been progressing with changes in thegovernance and organisation structure within the ZG group. Volt has plans to provide working capitalfor the ZG business when it is satisfied that the group companies charters (constitutions) areappropriate for shareholder, board and executive management to operate and make decisions withinan appropriate organisation structure with clear delegation of authorities, appropriate internalcontrols and transparent reporting"

Excellent!! Post acquisition time to get the house in order and most importantly Corporate Governance. What would the naysayers have preferred that Volt didn't spend time implementing good corporate governance just transfer the working capital only to get a call at Christmas from Oliver Twist saying please sir can I have some more? NO! You don't transfer a cent until you know it can be controlled and implemented successfully and efficiently and doesn't end up being spent without correct delegations of authority in place.

NEXT:

"ZG’s charters also prevented the appointment of a Volt selectedCEO to manage the entire group business and also was restricting the ability to appoint a Volt selectedCFO. Volt considered that without these changes being implemented, it was not in the best interest ofVolt shareholders to proceed with advancing funds to the ZG business."

Again Excellent!! Do not transfer a cent until you have appointed your own executives who by the sounds of it Volt have sourced, interviewed and prepared for appointment in the short 2 months since acquisition. Anyone familiar with Human Resources will appreciate that is a massive achievement I look forward to finding out who these guys are and what their contacts/ credentials are too.

NEXT:

"These changes and other significant decision making changes have recently been formalised followingagreement with the 30% minority shareholder. Following the engagement of the new ZG CEO and CFO,Volt is now progressing with advancing funds to the ZG business to resolve working capital issues thathave substantially impacted the September 2021 quarter production and sales and is looking forwardto improved production and sales performance in future periods."

There you have it, funds were delayed until the Governance was sorted and the appointments made. As a shareholder I am delighted to hear this and it increases my 1,000,000% faith in Trevor ten fold. Its clear from the above information Trevor is very diligent and refused to send money until these issues were sorted even though it was going to impact production.

LASTLY:

I could go on but I'm not going to, people will see the world how they want to no matter what information they have. Now and again it is worthwhile to take an objective view rather than seeking to reinforce your view or bias.

Of course I would love to have seen a miracle report that said we were at nameplate capacity, cash flow positive and the LIB Plant is being Commissioned as we speak.......all in the space of 2 months?? Not reality!!

Yes I have been here for 6 years since the MOZ days, Trevor Matthews is the reason I stay invested. This report reinforces my assessment of Trevor's ability to get this done.

Not financial advice. Do your own research.

Expand

the share price next week will determine whether the market has read the report and understand the report objectively.

No.	Vol.	Price($)
38	20789377	0.4¢

No.

Vol.

Price($)

20789377

0.4¢

Price($)	Vol.	No.
0.6¢	16319110	19

Price($)

Vol.

No.

0.6¢

16319110

No.	Vol.	Price($)
38	20789377	0.004
17	12778715	0.003
8	10541525	0.002
10	24867000	0.001
0	0	0.000

No.

Vol.

Price($)

20789377

0.004

12778715

0.003

10541525

0.002

24867000

0.001

0.000

Price($)	Vol.	No.
0.006	16319110	19
0.007	8750504	14
0.008	6845168	15
0.009	7095060	8
0.010	23245421	6

Price($)

Vol.

No.

0.006

16319110

0.007

8750504

0.008

6845168

0.009

7095060

0.010

23245421

(20min delay)
Last 0.6¢		Change 0.001(20.0%)		Mkt cap ! $24.95M

Open	High	Low	Value	Volume
0.5¢	0.6¢	0.5¢	$8.378K	1.673M


Last 0.5¢		Change 0.001 ( 0.00 %)
Open	High	Low	Volume
0.5¢	0.5¢	0.5¢	249731
Last updated 14.31pm 07/05/2024 ?

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