VRC 9.09% 0.6¢ volt resources limited

Hoof, The only smoke and mirrors going on IMO are those being...

  1. 527 Posts.
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    Hoof,

    The only smoke and mirrors going on IMO are those being played by the company.

    First of all the 100tpa non binding off take signed last year was signed after an agent was paid a $400k commission at the time with absolutely no guarantee of certainty to shareholders whatsoever. Even @thegoodoil21 raised the issue of who Vingo International was . As has been pointed out here why is stage 1 covered now when 100tpa was already committed?

    Then lets look at the binding agreement with NGI. A newly formed company with no track record, a founder who was involved in a major money laundering scheme through a supposed US bank. I´m happy to re post the pictures of the vacant Baltimore warehouse situated somewhere akin to a ghetto if you´d like but of course that must be real also.

    Has a stage 1 feasibility been conducted or hasn´t it? Access to the data room has apparently been granted that contains the study and yet as @DreamCatcher pointed out it appears from that announcement its not complete. Which is it?

    Giving away security over the asset for $ 1 million and then talking about how short term financing is complete. Firstly this company has a proven track record of spending somewhere between $600k to $700k per month. Before you start talking about cash flow predictions the company itself forecast this cash burn in the last quarter. If it was possible to forecast less then they would have. IMO no board is going to forecast cash burn of $1.8 million when they had $1.2 million in cash unless they had to and the forecasts were accurate. But now in the midst of travelling all over the world and sending samples to China and doing all of ¨this work¨the company now is going to make $ 1 million last miraculously for 5 months until options expiry? Talk about counting your chickens. At 2.6 the share price is 6 price steps away from those options dying worthless and yet the company has already ¨banked the money.¨

    And while we´re at it, let´s just gloss over Tanzania. @Graphene on many occasions has entertained the idea of the Tanzanian Government funding the whole project. Well sorry as I suggested that was an impossibility. Not only have they not funded it they´ve taken 16%of it for nothing and the goal posts are still moving.

    IMO its amazing that in the midst of all this and the battle for funding to ¨keep the doors open for business¨we can take solace in the fact that demand out to 2030 is robust...

    @FiendishRedbeard I think you may be on to something.
 
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