Just wonder who is going to put up the "funds" and under what conditions, what kind of "third party / professional investors would put money into this? It takes a few minutes to look through previous announcements to see that VAN has had to respond to three ASX query's in the last 12 months.
* 15/11/16... VAN's response on negative cash flow -: "Yes, we expect to remain in negative cash flow until commencement of mining operations which are to be undertaken by the middle of 2017." Whoops!
*09/02/17... VAN's response on efforts to raise capital -: "Discussions are well advanced and expect to be finalised by end of February, 2017." Great!
*18/08/17... VAN's response on efforts to raise capital -: Discussions are well advanced. Really?? What happened to the February dead line?
Elcorp, the last rights issue at 0.01 received only 43.5% acceptance in Oct of 2015, they have raised about 4.5 mill in high interest debt and issued some options, what next? I think Sydney's on the right track imo.
$68K Expenses, page-11
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