trading halt !, page-30

Well, I was a little off with my guess regarding the amount of the capital raising, ha.

After my initial surprise at the size, I have re-read the announcement, and with the new Insto onboard, it implies that they have basically sown up their way forward to production on Mt Linsday as well as the DSO, i.e. finance and construction, support etc.

Without doubt, many commentators in the market agree it is extremely hard to raise capital in the current environment for explorers and I am sure many posters here have stocks that have struggled to do so successively.
VMS is showing that its strength by undertaking such a large placement. Many companies I have invested in have consistently not raised enough prior to completing major projects (always coming to market when they are desperate, which is obviously a terrible time to do it!. Even the stocks I thought that had excellent management credentials still fail regularly to have enough to get all the way to production. This raising should ensure that there is no more, with the DSO to provide the rest. If this is not the case, I will be selling. Pretty simple decision for me now. All my opinion. Many posters throughout hot copper do not like raisings. I have no problem with them if they are used wisely.

Anyway, it will of course put pressure on the SP in the short term. I do like the structure of the placement with a large Insto placement and a small SH part (as it seems clear the new major holder is indeed looking long-term and so will not be the catalyst for selling).

If the SP does go below the placement price, perhaps a very good time to buy IMO. As Big Wilson hopefully will prove that VMS has another great resource.

Each to their own of course.