The VXR market needs a sentiment change. With a mc of only $40million (a penny dreadful) few investors believe this project will go ahead. And the company can’t change that point of view - hasn’t been able to for years. Gold prospects changed the market view for a short time but that excitement has evaporated due to VXR showing no interest in the matter.
The sell side hasn’t changed for many months. The sellers won’t budge and the buyers lack commitment.
Many key actions suffer delays and finance approval seems the only thing that may change the markets point of view. I assume any product these guys may produce will need to go through Port Hedland port. Is there capacity for the port to take the product? The ports packed with iron ore.
Many many issues unresolved yet for anyone to get too excited about.?
VXR or VXRDA, page-27
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