Ann: Successful Restart of Graphite Production at Zavalievsky, page-41

September is just buying more time for them to pull something off. They dont have enough money to get to September without a CR so if they think thats going to get through without dissention they are sorely mistaken.

Our fervent hope is that if we have signed the offtake with a small no name chinese company then the alleged finance can only be coming from that company itself or a non bank financier that is happy with accepting their offtake as security. Therefore on that basis VRC must know who the financier is and should make some disclosure about that.

they already have told us that traditional lenders would not accept chinese offtakers so no point in signing one now and locking us in and trying to hawk it around to financiers. That would be incredibly stupid and hopefully they have not done that.

So working on the principle that they surely would'nt be stupid enough to sign this binding offtake without a binding finance committment based on the this particular offtake then why cant they announce the heads of agreement or term sheet etc and why do they need to September to finalise things. They should have had a firm committment from a financier before they signed this offtake