I am glad that there was a competent person to make the competent persons statement, that person surely must not work for Venus. This ann would matter to us, if we were ROX holders - otherwise it is just depressing to see the scale of missed indicated resource within the site, which if I am not mistaken is now for the most-part ROX income. It is XAU, and therefore the sole property of ROX.
As a VMC investor who saw the potential in this company, and then saw the XAU earning potential wash away last week with a decision made by management without the consultation of shareholders (many of which would have been comfortable with a capital raise to go mining), this ANN is simply depressing and disappointing.
We had hoped that VMC would have a small CAP raise, and use funds to begin extracting gold, and use these funds to then begin extracting the V205 - what we see as the true potential breadwinner of this company. We did not see it coming, that management would give away the back yard to paint the kitchen walls, as such.
The worst part, reads in the second paragraph for those not interested in detail:
Further to that announcement Rox is pleased to advise it has confirmed theMineral Resource Estimates at the Youanmi Gold Project totalling 12.4Mt at2.97g/t Au for 1,190,600 ounces of gold. In addition, there are a number ofexciting, never before released, near surface drill intercepts that requirefollow up.
They are basically openly calling out the VMC estimates as amateur.
Please someone do correct me, I am failing to see any importance, value or hope in this announcement in determining the direction of VMC.
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