I am defiantly in the company for the long term while seeing the massive upside of the Bunyu graphite project. I believe the new CEO is doing a great job behind the scenes, and I was really happy when he bought shares in the company. He definitely sees the potential of VRC.
The one massive factor for me is drilling. We currently have a 20-year mine life, and only 6% of drilling has been commenced. My perspective on it is that if we do more drilling and obtain a significantly large amount of graphite, it will gain major attraction from offtake agreements and stockholders, which will put some respect on the company.
I know we are in the wits of updating the PFS, so my theory does not look good in the short term. Just look at RNU, which has a 600m market cap and their main pitch was 'second largest graphite reserve in the world outside of Africa with a 40-year mine life'. Other companies such as Itech minerals are following the same approach as RNU. I honestly believe with the size of the Bunyu project, drilling would really push this company in a forward direction.
Nevertheless, success will come eventually.
VRC Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
