VIC (ASX) Ann: Company Update

Originally posted by Sentia717: ↑

Also if I was on the Board, or even as an ordinary shareholder as I am presently and being asked to support a CR, then there are some things I would like to have verified.
First and foremost what is the present condition of the prospects that the old VIC said it had on its books. What I mean by that is are they all current and paid up. We know that by the end of December VIC had very limited funds left (about $78 k ) according to the QR announcement (Cashflow) released on 21 January 2019. Some, or possibly all, of that could have been eaten up during January given the average rate of monthly expenditure.
So what we need to have from the new BOD is a reassurance that all tenements that the old VIC claimed as the leases under their control are actually all up to date and secured.
Now as to the status of the Bolivian "assets" which I am very dubious about again I think the new BOD has to be diligent in checking what exactly, if anything, it has been doing "care and maintenance " about or on. Certainly if you check page 5 of the QR Activities announcement for 21 January 2019 there is no sign of any Bolivian tenements being listed which indicates that VIC has nothing really. Maybe a few limited drilling results at best. The new BOD needs to check that thoroughly and issue a clear statement about the current status.

If the planned CR is going to get support then there needs to be full and honest disclosure so people know exactly what we have got.

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Also I think that the new Board ought to give a clear accounting of what the financial state of old VIC was when they took over. Lay all the cards on the table and no cover ups.
After all hopefully we are no longer at the casino.

Ann: Company Update, page-88