Correct. Because someone BELIEVES a second hand plant might do, they’re not happy? And despite the fundamental flaws in some of Pilbars previous arguments, they now think everything they said was true..?
Jesus. This thread is amateur hour, at best.
You’re all punching the air like the moody dude at the end of the Breakfast Club movie when the SP is ahead of itself and when it’s behind, it’s the end of the world. This is what kids do.
The company is delayed. Probably a few months from where it thought it would be now. Can anyone point to engineering plans or circuit designs that are specific to the sand we have that we could’ve used to get this through quicker...?
...no?
Ok.
It’s incredibly hard building sustainable business models. Do you realise how much harder it is to do it under a microscope and with such strict compliance that exists when you build these things in public companies..?
In private companies, you don’t get to see delays, mistakes, second attempts, unforeseen circumstances etc etc - these models are built under the cloak of darkness. ALL business go through these hurdles and more. To expect otherwise is unintelligent, to say the least.
If you consider that 12 months ago this company was no-where and it has since produced;
a) acquisition of a world class resource & pegged more of its own ground.
b) produced multiple JORC compliant resources
c) confirmed a grade that is almost unique to the world from Muchea
d) designed 2 plants
e) completed first phase of environmentals on both projects
f) applied for a mining license
g) garnished interest from buyers with LOI’s
...inside 12 months? And it’s taking too long? None of you could point to ANYWHERE where this has happened quicker. This has been quick. So fast, that I fear VRX are making a Rod for their own backs keeping up this pace with shareholders expecting this is sustainable. I’m glad a timeline has been published now.
What happened today..? A sell off which was a result of 2 things. The first being someone dropping a bundle for idiotic reasons. That caused what it normally does in this situation we find ourselves in. Others to sell. Second, the market expected the PFS end of this quarter and it was delayed at the last minute.
If a criticism is due, IMHO, the company’s comms could be improved now that we live in this instant microwave society where everyone has an iPhone and trades a pissy 4 or 5 grand to help pay their bills. I get it. It’s tough.
But if you’re trying to trade this, and the timelines aren’t suiting YOUR timelines- stop making your problem, everyone else’s. The company is obliged and mandated to create shareholder value. But that doesn’t extend to helping you pay your bills.
But even in saying the comms could improve, it’s also not that easy. There are so many regulations and so much compliance around what you can and can’t say AND when you can and can’t say it, it makes it extremely difficult to do this effectively. You seriously have no idea how hard this is.
But, I felt it was worth mentioning this to VRX non exec, Peter and he listened to what I had to say.
Yes it’s sh1t the SP has dropped. Nobody dislikes that more than me. Each cent it drops, is $650,000 down for our company. But this isn’t a short term proposition. It’s never been sold as that and you are doing yourselves a disservice looking at it that way. I’ve mentioned this before but, I don’t give a rats about the day to day SP - because it doesn’t mean anything. I’ve come to care about it more because some of you get in contact with me and annoy me about it. Strange though I don’t get bothered when the SP is moving north.
It’s simple. Sell if you want to sell. Buy if you want to buy. If you believe in the company and the story, you’ve all seen the timeline today in the ANN just like I have. Research the market. Look at the fundamentals and arrive at a conclusion.
FWIW- There is a reason we chose this company to deliver our project. IMHO there isn’t a more capable team that has a more complete skill set to deliver what I originally conceptualised 4 years ago, than VRX.
So everyone just chill the f@#k out!! Management is doing its job in a difficult market where there’s good and bad sh1t that’s going to have to be dealt with. Be mindful that this by no means is easy. I think the simplicity of mining sand as opposed to hard rock mining has messed with some of your expectation levels.
This is a process and the team is going through the process. If / when management successfully navigate this through to production, this is 20 times the value of what it is now.
If that were easily achieved everyone would do it. Try keep it real.
Good luck to all.
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