Things are not looking very healthy at VIC. First the long...

Things are not looking very healthy at VIC. First the long serving company secretary, Elizabeth Hunt, has done a bunk some weeks ago to be replaced by a relative innocent. Then we have had voluntary suspension after voluntary suspension over some new "acquisition" and capital raising.

Now that is a real puzzle. Most announcements for a trading halt because of some new acquisition and/or capital raising take just a couple of days. In other words all the details have all been sorted out before the trading halt announcement so the rest is just a formality.

Yet here we have VIC staggering along week after week asking for extensions to its voluntary suspension and promising an announcement in a weeks time which never comes. This looks like VIC may be getting close to the proverbial fan.

Reading the annual report is even more proof that things are very shaky. Gosh Bolivia has been dragged to the surface again as though it was a major asset. VIC really has nothing to offer there. It is time that the ASX/ASIC took a thorough look at this company because I doubt that it would stand up to much investigation.