I totally agree with you about the positive future for VRC ... if all goes to plan. And I can't for the life of me see how VRC will not at least achieve some reasonable sales of its Graphite ore, considering the vast size of the deposit, the fact that the Graphite doesn't need chemicals to rid it of impurities and the size of the flakes etc. It may not be the best deposit discovered to date, but it doesn't have to be, just as long as VRC achieves some good sales, then the sp may hit 30c+ in the future!
Like you, I have done all the due diligence that I can and I have listened to Stephen and Trevor several times. I've picked through every announcement looking for every skerrick of positive info, and I've checked the websites of brokers and other mining sites to glean as much info as possible. (I do have a lot of money invested in this stock and I certainly can't afford to lose it all!)
However VRC is still a spec stock and prudence should dominate any excitement about the stock, at this stage. I've seen it all before, and been through it often enough. The CEO and the board of any spec company will all be singing its praises right up until the time it goes bust ..... or much less common, it actually begins mining! Mining spec stocks have a very low rate of achieving success and becoming profitable mining companies. I could name a few spec mining stocks where some people have lost their entire life savings, their house deposits and even their marriages, by listening to and believing, company CEO's and their dodgy company figures.
Not saying that this applies in this case, but .. until all the i's are dotted and the t's are crossed, until there is $34.8m in the kitty, and the ore is actually being mined, VRC remains a spec stock.
I see no real point in ringing Trevor as he's not going to say anything negative about the company, he'd be singing its praises, just like he should!
As VRC's mining plan gets ticked off one step at a time, then investor confidence will be enhanced and the sp should rise. The next major step is that the $4.8m options conversion must be successful. Although a major announcement may still come out before that time.
Yes, I have plenty of VRC shares which I am hoping will make me well off, with a sp of at least 20c. But human nature being what it is, I'd like to become a multimillionaire on the back of VRC becoming a very successful Graphite miner! It's called being greedy, but after a few dud stocks, I would be very happy to become rich!
So my current idea, is to increase my shareholding in the company, perhaps to a top 20 shareholder level, .... if VRC's business model goes to plan and my 3 essential objectives are met by VRC!
VRC could well reach 60c to 90c a share, if it becomes a top 3 Graphite mining company like Trevor, Stephen and the board are aiming for!!!
Good luck to you and to all shareholders in VRC! Let's hope that we all become wealthy and wise shareholders. Just remember that if things go horribly wrong for any reason, there will be a lot of people scrambling to get out! And that includes the long overdue major correction in the US share market!
Cheers
I await 3 things before I will commit any more funds:
1. Further positive announcements from the company.
2. The success of the options conversions, as this is the company's working capital for the next 12 months.
3. The success of the $30m bond issue.
(Just my current thoughts and opinions, not trying to influence anybody else, as everyone should have their own risk management strategies, done their own research, set up their stop/loss figures and know how much money they are prepared to risk.)
VRC Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
(20min delay)