VMS - CHART, page-628

With the late volume yesterday I see this as a genuine double top and believe it will break current support and fall back to the 10c support line.

IMO despite what many believe I don't think the Riley 'commenced shipping' announcement will provide much in way of support later this month until cash is recognised in the first report following cash receipts (refer to FEX, GWR for similar scenarios).

The catalysts will be their current exploration activities and later on the Riley production which will secure funding for future development/production. I am a little concerned at the delay on the Kulin results, assay delays are standard in current market but I just have a pure speculative feeling about that one. Hope I am wrong. Golden Grove and further resource increases at Mt Lindsay are still very bullish upside potential.

The delay to Thor is another short term catalyst that adds to the potential break down of current support.

I have a considerable holding still and will hold off any activity and will assess should it break the current 13c neck line.