FUTURE POTENTIAL V3, page-400

When the last mined they produced 846 tonnes over a 14 day period. They sold it according to their end of december figires for $754,000 which tallies with what they told us at the end January. announcement 27/01/23

Graphite production of 846 tonnes during August was achieved from only 14 days of processing
operations with an average of 60.5 tonnes of graphite product per day prior to the working capital
and supply chain issues suspending production. This production has been sold, apart from
approximately 30 tonnes retained for battery anode material testwork and other uses, with prices
achieved during the December 2022 quarter ranging between €520 per tonne FCA for low grade fine
material to €$1,900 per tonne DAP for purified graphite grading 99.5%TGC

In the half yearly results we can see that the costs of sales and expenses far outweighed the revenue resulting in a $2.4 million loss.

we paid a first installemt of $3.8million USD to purcahse the mine

We contributed $2.099 million in cash to cover the losses to end December 22 that we have written off. ie. not recoverable.

We still owe $3.8 million USD to the vendors for the 2nd installment of the purchase price. There was talk of legal action to reduce this amount but in proper VRC style we have received no update on that matter whatsoever for 12 months.


It will be interesting to see the numbers for the month production this quarter and see if we have burned away more cash or if it has managed to wash its face.

everything is a quagmire of confusion. thats how they like it.