Hi Lee, here are my suggestions of 3 options
"The odds of 3 mineral properties to become a real mine is extremely slim, perhaps 1 out of thousand. VRB becomes profitable business at present is 90%, that is 90 out of 100. It is absolutely necessary to separate the 2 total different business. For a small business , perception is everything. Whether it is mining company or high-tech green energy company, market valuate it completely differently. If some investors really want to invest in a mining company, there are many other companies in Canada. it won't be SRI. In Canada, SRI is the only one investors can invest for VRB partially. So vast majority investors here are for VRB and VRB only.
Here are my suggestion of 3 options
1, spin off VRB and name it Sparton VRB Green Energy.
2, sell all 3 properties and the drilling rig and change it to high-tech green energy company.
3, do RTO (reverse take over). Perhaps from a Chinese company who wants a foothold in Canada; for example LuBao which holds 51% of Joint Venture. By taking over SRI it will have 55.4% of JV and 10% of VRB USA. I believe it will be very happy for this transaction. "
His reply:
"Interesting perspective thanks -- some parts are easier said than done but I really doubt spinning out a minority 10% interest would find market traction --we need to get public information on the valuation before this could fly and that may come when IE deals with the VRB USA situation and announces something --the spin out would be very costly too
also the mineral projects are providing funding at the moment with govt Grants and sales revenue
it might be better to just well out VRB interest and keep a big block of cash after settling all the underlying debts related to it
we are pursuing all alternatives --L"