Based on the Qtly cash flow report VRX will run out of cash around June 2019. The directors and staff are being well paid............read the report !
Until the company has mining rights approved I cant see ANYONE lending VRX anything. This includes potential off take partners. If you were looking to buy sand from VRX would you stump up cash on the hope mining approval is forthcoming. Having being involved with corporate Australia's biggest lenders I cant see that happening.
Government approval could be protracted as governments do nothing in a hurry. In the meantime directors might need to take a pay cut to buy some time. As a shareholder I take a dim view of companies who keep raising cash from the public to stuff in their own pockets. Time for VRX to perform. DYOR
VRX Price at posting:
9.8¢ Sentiment: None Disclosure: Held
