VRC

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thegoodoil21

1,381 Posts.

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01/02/17

15:32

Post #: 22292069
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Originally posted by Winston Wolf ↑

That's what I was replying to.

The numbers tell the story. IMO number don't lie, people do.

Would you expect to ring a company and them to tell you that it's all going badly and we're desperately needing capital?

@thegoodoil21

Imo A BFS is going to cost millions of dollars. You've just said that the wet seasons coming, how do you think you do work required for the BFS?

Refer to page 6 of the quarterly, the timeline outlined for the BFS is from January to the end of September which is the next 3 quarters?

You yourself just said the burn has been cut back to $1.648 million because of the wet season and so therefore little or no work. Therefore IMO by using the assumption of little or no work using that burn rate alone for the next 3 quarters is $5million and that's without paying for the BFS!

Don't believe me, talk to your own broker / financial advisor as IMO I'm sure they will Tell you the same thing.

As the company has indicated This project needs hundreds of millions of dollars to develop. To date only one company has been able to be financed as I've said over and over and it has raised $400 million in equity. They announced a cost overrun 2 days ago and that they were still trying to obtain $50 million in fianance on an unencumbered project that is two thirds of the way to being built!

There has not been $1 of finance obtained in this sector and until there is IMO you must assume every dollar required for this project has to be raised through equity as it is to date the only precedent that has been set.

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WW this is the last time I educate you The wet season is here I didnt say coming as you stated ,during that time no drilling or very little. During this time they Test results previously drill is much much cheaper than drilling hence smaller cash burn this quarter JAN FEB MARCH

Hopefully you now understand

ps we all know building a mine costs thats not this quarter stick to the facts

VRC Price at posting: 4.4¢ Sentiment: Buy Disclosure: Held
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Our friends, page-46

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Nine's staff strike as Paris Olympic coverage begins

ASX Market Open: ASX200 to rise for Friday session | July 26

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Our friends, page-46

Top Stories

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Nine's staff strike as Paris Olympic coverage begins

ASX Market Open: ASX200 to rise for Friday session | July 26

Featured News

Buyers (Bids)

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Featured News