"VMS"" Success is not limited to "Riley", page-144

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Charlieinvest

1,158 Posts.

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24/09/21

11:19

Post #: 56320569
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Originally posted by blackcoal: ↑

A bit of crazy can sometimes be good!

At this stage Thor does appear to be more prospective than NGG but neither have a mineable reserve. I'm all for VMS selling off NGG to secure the necessary funding to immediately commence development of Mt Lindsay. Problem is, where are the NGG drilling results? It'd be fair to say they're overdue now. It's likely going to be difficult to sell off NGG with unknown potential to an unknown buyer. Meanwhile, VMS might be able to secure more than enough to fund Mt Lindsay by selling Thor to CHN. I don't want VMS to sell Thor but just thinking practically given the current state of Riley IO.

Just to premise that it's all hypothetical as no one outside the BoD knows what's going on. I hope for all shareholders that I am wrong with my speculation.

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My opinion and its only an opinion
We will get our NGG results soon ( yes they're late) and if it indicates the thickness and depth of the zinc ( we already know the grade of zinc is excellent) , it will be game on for a buy out.
Remember EMR did an independent valuation of NGG sometime back and came back with a $400mill valuation of what it's worth to them based on historical data. If our drill results show what they're looking for, maybe , just maybe they might be interested enough to make an actual offer. Just a thought. A decent offer would eliminate all our financial stress.
Like I said in a previous post, the next few months will be very interesting

VMS Price at posting: 5.7¢ Sentiment: None Disclosure: Held
8 Upvote

0 Great analysis

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