1.8-2c is the exit point (CR price and previous support), which should occur before the 90 day deadline. It's all very well saying "all speccies have delay", but:
a. VEC misses them *all* (spectacularly, by months every time). b. Most speccies aren't financed by Magna.
The game changed with the post-acquisition fiasco. Suspensions went up early for directors to claim bonuses, a stealth CR occurred, shares went out like confetti, finance fell over (and was promptly replaced by Magna), JB resigned mid-suspension (to focus on his "existing" portfolio, which he just expanded with another gold play) and the trademark radio silence kicked in.
There are two scenarios I see in the short-term: 1. New finance is announced (any day now). This is no different to the pre-AK dialogue that essentially ended up taking 12 months. This will, of course, most likely rescue the SP and reward the faithful, give me a profitable exit point, and replace us cranky buggers with optimistic ones. 2. The deadline passes (my personal prediction) and the SP is crippled while the death spiral finance offloads the poor management onto retailers and shareholders.
I don't think 1.3c is the roof of the recovery by any stretch (I think it's 1.8-2c). I don't think finance will be sorted in time (down in the mid-term), but probably will after the 90 days (up in the long term). That makes a tight but anticipated window for me to exit without too much of a loss (with 2c being my break even).
Buyers are back and selling pressure is down, T20 are accumulating, I agree that right now is better, but finance is still a mess and VEC has an atrocious record. The nature of the beast hasn't changed and it won't without finance. I'm betting there's upside before the deadline (as momentum suggests), and in a Hail Mary there might even be a finance announcement. Why would I exit now?
If I had one VEC share for every "this is it!" themed post on HC (based on reading tea leaves) I'd finance the project myself.
