The first milestone was 170ktpa, complete fail.
Now VRC is chasing only 20ktpa but you don't know if it will make money and you only have offtake for 1ktpa. But what concerns me most is you don't appear to have any issue with needing another CR only 5 weeks after the company told you the $1 million loan would be sufficient working capital to last until the end of 2017. Wake up!
And by the way, VRC are actually broke today. They basically have no cash and a debt of $1.1 million plus contingent liabilities of approximately $700k in payables and $700k to keep the project in good standing this year. You can argue all the semantics you like but non holders have called this correctly and VRC is down nearly 90% from its highs.
The first milestone was 170ktpa, complete fail. Now VRC is...
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