VMS 0.00% 2.2¢ venture minerals limited

Strong interest, page-58

  1. MrQ
    5,067 Posts.
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    Been here since 2012 (from memory) because of change from Labor to Liberal Tas state government. So in at 30c and traded that 10c-30c range a few times. Made $ then went LT holder. So that's my timeline.

    Have they brought anything to completion. Of course not as we would be on our islands enjoying a luxurious lifestyle and not be here except if we took the dividend lifestyle rather than capital gain and exit.

    I differ in that I think they have stuffed up PLUS had crazy bad luck/circumstance.

    I got in to Tas despite staying away due to Greens (as in the wacky ones, not genuine greens) as I thought the new Liberal govt would clear the way for sensible mining.

    So thought Riley and Lindsay would be supported by Givt and Greens as W Tas needed jobs as that region was a basket case. But nope.

    So Riley spent years upon years, appeal against the appeal against the appeal. While VMS could mine at a profit they couldn't mine. Not sure what they could have done better. Then fast forward to that IO spike. AR scared to use shareholder $ and stuffed up big time. I said to him straight out he could have employed me cheap or a PM for $175k and we would have gotten maybe 9 or 10 shiploads out at $1.5m per ship. But hjs concern at spending scarce cash was a huge fail.

    On Lindsay I wasn't here super early. But there was a small gap where we could have acted with the open pit mine but was put off by BBF threats and Tin price concerns. I think should have persevered but didn't. So fail. Since then Tin price crap to fund a new mine at $400m+. Price just not sustainable.

    Given world focus, ESG issues etc, now Lindsay needs to be undergound. Uses 15% of underground footprint. DFS fails with cap cost with current Tin price but Tungsten good, Boron adds nice (pending) and IO in there.

    But arguably Tin not sustainable. So waiting on Lindsay new DFs underground DFS. Have they been quick enough? AR has an issue with treating $ as a scarce resource.

    I've said to him he needs to get on with it and ignore shareholder complaints about CR's. Raise money, drill then accelerate. Jupiter he's done that finally. Should have done it last 12 years arguably to maybe kick a success goal.

    Is that what you needed?
 
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