I don’t disagree with you. As previously mentioned, there is likely to be a CR at some point in time. I would think this is likely to happen sooner, rather than later.
In which shape this forms, I have no idea.
The capital required for the next 12-18 months is minimal, in the scheme of things. I’d guess between $1M - $2M tops. So dilution, even at these levels, will be minimal.
Plant, land acquisition etc can largely be debt financed, or forward payment from offtake partner, or a combination of both. There are only a few items that probably couldn’t be that might amount to a mill or 2 that another CR may have to speak to - but that’s for another day way down the track at a much higher price...
I will participate in the CR that the company mentioned is coming, “...in the coming weeks/months” (I don’t exactly remember the timeframe as I type this - all I know is it must be imminent)
Hope this clears that up.
VRX Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
