I attended the AGM late last year and spoke to the Indian geologist/s and the people doing the actual drilling/sampling work in the "field". It was clear from them that there were significant "visible" mineralisation beneath the drill holes and core samples. Why such items have not been further discussed via ASX releases is beyond my comprehension of the laws relating to mining co dealings but there were several brokers and large investors there who seemed very bullish. (Argonaut took a placement at 10c and to date has not sold an iota according to my broker).
I asked for clarification and what that implied as far as the Co-Ni and the geo was told it couldn't be elaborated on until they sampled the 1 metre cores. My read was there was a lot more to the Co-Ni play that they are aware of but has been released under ASX regs probably due to the verification requirements of ASX. I expect that to be clarified by their consultant geos very soon.
I expect more announcements and the results of the core samples very soon and have heard whispers of deals, which I guess means they may be selling an asset so they can drill the gold area at Youanmi and do further detailed drilling of the Co-Ni and the Lithium.
The founder of Penny West was mentioned in the 2nd most recent announcement, a Mr Boddington, who now is doing work for VMC. The EM survey mentioned at
shows that in the legend data. One can only assume that the very large EM targets which lit up on the VMC ground at Youanmi (right next to the old 22 g/t gold producer Penny West ground) are significant and Mr Boddington will be helping VMC target high grade areas for significant drilling.
Rome was not built in a day and the last project these guys ran was sold for a small king's ransom to BHP ($200M plus). I trust they know that they are doing and the short term waffling up to 18.5 and down will be removed as the stock goes up on multiple positives very soon.
VMC Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
(20min delay)