Since 4c back in January, VRM has been getting smashed relentlessly for nearly 6 months straight. It's now down 57.5% while the company assures me there is nothing wrong, only delays that are beyond their control. If there was something amiss it would need to be reported according to the rules so it makes sense. "Retail" investors losing faith and "tax loss selling" are the main reasons put forward.
Looking at the fertiliser market, rock phosphate prices have recovered a bit lately and the A$ is below the feasibility study's (FS) US75c so that should be positive one would think.
At our current market cap, allowing for the recent capital raise & earlier FS costs, the implied value of the old Rum Jungle is now close to zero.
Let's see if the next update sheds some light on all of this.
