I am amazed that you remain in denial that VRE has any redeeming attributes.
VRE does NOT have great assets. All along misguided posters have qoted the so-called $100m replacement value for the BW mill as an asset. IT is only worth salvage value of about $10m AND there is noone with a gold deposit in Australia that even looks remotely like needing a 2.3Mtpa gold mill. The point being that the mill is only worth what someone is willing to pay for it and I can't see any buyers on the Australian scene. CDU may want the front end only at a wild guess for someone looking at that scale of throughput.
The mine is a crap asset, otherwise VRE would not be where they are. Who would be as daft as to repeat the mistake that VRE has in trying to buy this asset - just the thought of another company trying to convince their shareholders to support the acquisition of BW with shareholders funds is beyond comprehension. Also, the exploration potential is limited, GCM spent zillions drilling anything that didn't move in that belt with no result. Nothing VRE drilled looked even close to being commercial.
The only decent asset VRE had was Carnelia hill - heck, for the sake of saving the cost of one diamond drill hole to test the down dip extent of the nickel orebody (say at a cost of $75,000), VRE gave away 70% of that for $3m of exploration and then had to sell the remainder while in financial distress.
The reality of VRE's situation does not match your continuing optimism.
VRE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
