RE: INVESTOR CALL31 Mar 2026 18:33
Notes from the session, used AI to do some cleaning up, but largely accurate from what I captured from what Gary said:
VLRM Investor Meeting – Summary
QGP Relationship & Due Diligence
• QGP passed all due diligence checks with no red flags, and VLRM / QGP has invested significant time building the relationship.
• Leadership is confident in QGP’s legitimacy and will no longer continue “massaging” investor worries about them.
• Gary Cottle confirmed QGP has not sold a single share.
• QGP brings major assets
• Aside from this conversations ongoing with three gold mines and a Titanium mine in Brazil.
• IAS are VLRM’s largest source of deal origination.
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VGold / VGold Core Strategy (Core of the Business)
• VLRM is a tokenisation company first and foremost, with gold and precious metals as the initial focus.
• VGold and VGold Core remain the primary commercial products, regardless of QGP outcomes — VGold continues even if QGP were to exit.
• 300oz initial gold production which QGP have going to be used to underpin VGold.
• VLRM will issue VGold tokens backed by real gold, with blockchain based verification through VGold Core.
• Regulatory structure: QGP owns the VGold Core entities, currently four of them.
• VGold provides the liquidity backbone for tokenised gold; competitors like Tether Gold do not offer this model.
• Expected VGold value: $15–$16bn, with hundreds of millions already in pipeline with discussions with interested parties.
• Revenue model is built on profit share, which is more lucrative than 1-2% on RWA deals.
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Asset Tokenisation & Financial Model
• Strategy includes remains the same and focused on tokenisation.
• Gold economics discussed: $1,500–$2,000 extraction cost vs. $5,000 sale price, making profit sharing far superior to traditional structures.
• VLRM may get between £0.5m–£4m in cash coupon payments, depending on deal execution.
• Verification of the gold and cash position is ongoing and expected within the next few weeks.
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Business Focus & Operating Model
• Clear focus: Build the tokenisation ecosystem, expand strategic partnerships, and push VGold globally.
• VLRM has reduced costs significantly, becoming a leaner company (60–70% headcount reduction).
• Cash position allows months of runway even if QGP exit. Not short of Plan Bs.
• Mine owners outside QGP have also expressed interest in investing directly in VLRM.
• Bluebird announcement and additional strategic partnership announcements coming soon.
• ________________________________________
Listing Plans & Revenue Requirements
• US listing (NASDAQ) is ready to advance, but revenues must come first.
• Realistically:
• Minimum: 3–6 months
• More realistic: up to 12 months
• A couple of VGold deals closing would trigger the listing path.
• CoinGT deal described as a multi billion dollar opportunity, that co