My guess is more "operating" ....(paycheques? legal fees??) than "advancing" or "producing"....
"Adriaan Bakker's Vanadiumcorp Resource Inc. (VRB), unchanged at 6.5 cents on 71,000 shares, has sold 4.42 million shares at six cents. Mr. Bakker, president and CEO, set out six weeks ago to sell 11 million shares so he is calling the sale a first tranche. Vanadiumcorp said the cash was for advancing its technology to produce vanadium electrolyte, for test production and for operating capital. Unless there is a big second tranche, there probably will be less advancing, producing and operating than Mr. Bakker had in mind." Stockwatch Commentary by Will Purcell April 20, 2017