thanks for losing me money, page-4

Program.

Sorry to hear that you lost on this one.

Its the nature of these sites that the people who post are almost always holders and who therefore feel the need to ramp. Those who dislike the stock generally stay away and so we don't get to hear their opinions, generally, as to why they think its not worth buying into.

I sold out of VMS last week, experience has told me delays are generally not good. However, other more attractive opportunities came up which was more of a motivation in the end.

VMS is also a good lesson in the dream that is driven by Olympic Dam. Ever since Olympic Dam was discovered in the 70's many many companies have been searching for the next big IOCG deposit. Many have claimed early success on IOCGU type systems. Many still have found copper/gold mineralisation (TAS, MOX are just two recent examples), which has turned out to be uneconomic. Most have found nothing. Only 2 other IOCG deposits of note have been found in the Gawler Craton - Prominent Hill and Carapateena.

Essentially, investing in these companies drilling IOCG targets is a very high reward but very high risk exercise. IOCG deposits can be massive world class mines as with Olympic Dam. If a junior found one, it could make the returns shareholders booked on Cudeco look ordinary. The hype around IOCG deposits is driven by these massive potential rewards. Hence you will generally see a junior get ramped up as with VMS, CRJ, MOX, TAS etc.. prior to drilling. It is usually prudent to sell some on the way up.

Investing in these high risk, high reward companies is also essnetially a function of your own risk profile. It is not for the conservative!!! If you're relying on the funds you invest to pay for your mortgage, kids education etc, I would stay well away.

One of these companies may well find an Olympic Dam style deposit. One day...

VMS have not found one. Yet. They may find one still. However history suggests that IOCGU alteration and even the presence of trace sulphides is by no way a guarantee of finding an Olympic Dam.