Ann: Trading Halt, page-14

I really hope the upcoming announcement is a positive one about the funding facility rather than another placement. Given that it is now clear shareholders have been seriously mislead about problems and costs of getting into production, even the rates of production and grades, then it is unlikely any placement could be made without a very serious discount to the current SP. Only the current potential financiers have enough inside knowledge to separate facts from the weasel words CD has given shareholders over the past year.
I'm appalled we were told output was going to be about 50% of planned output during the upgrade, only to find in the qrt report this is actually more like 10% or less, once we had a new MD who was perhaps less careless with the truth. The upcoming AGM really needs some active shareholders there to hold management to account. Perhaps we need some discussion about an additional resolution or two about slashing management and board costs (CDs salary included?) until profitable production is achieved.
Its looking like VXL will be very lucky to survive long enough to get into full production, but to give it a decent chance, its time to slash the SPIV's and leave it to the mining engineers to focus 100% on getting the process plant operating profitably.