VMS 5.26% 1.8¢ venture minerals limited

why no mining??

  1. 479 Posts.
    lightbulb Created with Sketch. 3
    Why are we not mining or at least preparing the site for mining?

    3/10/13 Riley DSO Project - Approvals Update re: fed court challenge

    "The request does not affect the current production schedule or operations of the Company"

    Twas in bold type in announcement!

    Next announcement 14 days later:

    "Although Venture has not yet commenced mining activity at the Riley Project the Company continues to ready itself for production, focusing on advancing negotiations for product offtake and securing the delivery of final long lead items. Venture continues to remain fully focused on commencing production in the second half of 2013."

    So in the companies own words the fed court case shouldn't have stopped them from mining. Now we know from the Shree case that if they had started work on the site The greens would have got an injunction to stop it. Venture based on precedents of two recent cases had a 50/50 chance of winning that and even if they lost, once again based on the Shree case the hearing may have been brought forward. Why didn't they go down this route???

    I will also note that every update continuews to parrot this paragraph:

    "Although Venture has not yet commenced mining activity at the Riley Project the Company continues to ready itself for production, focussing on advancing negotiations for product offtake and securing the delivery of final long lead items. Venture continues to remain fully focussed on commencing production >>INSERT NEW DATE HERE<<."

    Those offtake agrrements have been advancing for 2 years now. Slow going eh? Long lead items have been delivered but are sitting in a shed somewhere and not being assembled onsite even though VMS says the court case wouldn't have stopped them mining in the 2nd half of 2013.

    Hamish got payed 650k last year. What's exactly has he been doing to earn it? VMS claims that the case is costing them 50k a week. Seems to be BS given nothing is stopping them from mining. Hamish is costing us 12k a week though....


 
watchlist Created with Sketch. Add VMS (ASX) to my watchlist
(20min delay)
Last
1.8¢
Change
-0.001(5.26%)
Mkt cap ! $43.90M
Open High Low Value Volume
1.9¢ 2.0¢ 1.8¢ $55.49K 2.890M

Buyers (Bids)

No. Vol. Price($)
27 8383735 1.8¢
 

Sellers (Offers)

Price($) Vol. No.
1.9¢ 1030720 6
View Market Depth
Last trade - 15.54pm 09/07/2024 (20 minute delay) ?
VMS (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.