from another member Az888:I was at the T20 on Friday night here...

from another member Az888:

I was at the T20 on Friday night here at Perth (AUS vs PAK) with a broker from Argonaut.
Him and I are of the same opinion as to what’s holding this back. It’s nothing the company is doing wrong...that was actually proven by the recently completed CR. Over subscribed in about 3 hours.
It has nothing to do with the assets.
It has nothing to do with the end user markets.

Go look at Silica companies on the NYSE and TXV - you’ll see a number of examples where companies who are selling silica sand are worth billions.
Yes, it’s largely a different industry - but that doesn’t mean anything. The companies are selling a product for $X and buyers are buying it.

If this company was on either exchange - it would be north of 200 million dollars by now. Why..? Because investors KNOW that market and KNOW the prices. Because they’ve had exposure to it for years.

The problem is it isn’t on any of those exchanges. It’s on the ASX. Where no-one KNOWS what the price of sand is. That’s evident buy all your guesses. Investors haven’t had any experience in this because VRX are pioneering it.

Now I knew in the beginning of all this, that fact was a double edged sword. It was going to go only one of two ways. The market would jump in early on the “potential” and anecdotal evidence and it would go nuts, or, it would be a slow grind until it became as obvious as the nose on your face - binding MoU’s and fully licenced.

Now admittedly, I thought it would’ve been way higher at this point than it is - I got that wrong. But, that’s largely the reason I’ve said from the beginning I don’t care for the day to day SP. To effectively manage my own expectation level.

The market isn’t valuing this yet because the market doesn’t know how to due to the opaque pricing of this commodity. So if I’m right, you may even see just a small rise again on licences and it’s entirely possible that it won’t run UNTIL the binding MoU’s are signed where then the market CAN value this.

But all that means, is when this does run, it won’t stop for a long time to catch up to where it should be. And that’s easily justified by looking at the BFS’s...

If this company was in production, and those who were at the AGM will attest to hearing Bruce say the numbers in those BFS’s are VERY conservative, and it’s shipping...what’s the SP then...?

The company KNOWS the price of Silica - they have a dude up there, who I know, who knows more than probably ANYONE about the price of silica sand in the Asia-Pacific region.