$5.5m cash + $3.8m due vs $7.5m market cap

VKA sitting pretty with A$5.5m cash (as at 30/6/17) with December not too far away to receive their final payment (US$3m / A$3.8m AUD) for the sale of the Akoase Gold Project.

VKA also broke out of it's trading range today (2c-2.3c) which it has been stuck in for the past 6 weeks since the run up in late August.

Currently cash backed at 1.8c but once the additional $3.8m is received we will be sitting with A$9m cash (2.9cps) and a negative EV of A$1.5m.

VKA reminds me alot of the old CMT (now EHX) which was in a very similar situation to VKA. They had just sold their oil and gas project and were waiting for their staged payments to be received but the market attributed no value to the payments until a few weeks before it was due. As the payments came in it slowly moved up from 2c to 7.5c when the final payment was received, they then vended in a gold project and everyone is now sitting pretty at 13.5c.

Cash/EV Forecasts based on the information from the latest quarterly reports: