Quick Summary for new investors: * VMS started the JV with Thor and Odin (E70/4837,5067 & 5421).
* Chalice immediately acquired the unexplored "corridor" tenement between them to the south (Nebula 5086).
* Chalice commenced ground based EM's at Thor, but were chased away by the big wet and flooding.
* Since then, (perhaps after seeing as much as they have so far), they've now also pegged TWO more adjoining unexplored tenements (Nebula 5532 & CHN's own CGM 5685)...
So now....
drum roll....
more drum rolling for dramatic effect....
Now they own 100% to the South, East AND North of Odin (and consequently also to the East and North East of Thor).
It's a pity the weather in Bridgetown is still wet until about Thursday, after being wet nearly all month. I dare say that laying electrical cables for ground based EMs in pouring rain and mud is a tad more dangerous. Even so, Chalice still say they are trying to get back there this month.
I don't doubt it. Chalice have always been extremely reliable at creating wealth and returning it to shareholders on BOTH sides of their JV's every 2 to 4 years. They're doing it again right now with a 1 for 3 in-specie of their other Tier 1 million dollar baby. (Ref 5 big recent examples: 56724358 )
As a shareholder in both VMS & CHN, I see this as quite exciting - and at the same time quite suspicious of how both companies have their share prices heavily suppressed at the moment by unusual trades (like the one on Friday after market, where somebody bought about 80 grand worth of CHN at over $12 per share, even though the highest price through the day hadn't topped over $7, and the highest high it's ever had so far was a pip under $10 a few months ago...
and you all know what's going on with VMS. As slow as the BOD have been when compared to companies like Chalice, there still seems to be a suspicious degree of downramping going on. Ever since the new laws about price manipulation through social media were introduced with heavy penalties for social media offenders, the greenies have evaporated and coincidentally or not, several mutineers have surfaced, attempting to insert their own operatives onto the BOD...
Sure, some seem to be genuine holders for their own genuine reasons - but honestly, we all look more suspicious by discussing business from behind anonymous social media accounts - especially when we can achieve a lasting improvement for every junior explorer by simply petitioning the WA mining department to legislate that no junior explorer can sit on more than one BOD at a time until after they achieve their first $500m market cap. They are currently re-writing their mining act anyway, so even though they closed doors to suggestions back in June, I'd still bet there is no better time to raise the issue).
In any case, these new tenements help to stomp on any unsubstantiated claims and fears that Chalice are dragging their feet.
It shows they are continuing to build the "South West Project" in a strategic manner which will also help to provide benefits to VMS, even when foul weather prevents them from working there.
It also kicks back at any unsubstantiated claims that they aren't bringing enough to the JV (as if their time, money, experience, IP, technique with ground based EMs & down hole EMs wasn't enough lol... especially when VMS went straight from airborne EMs to drilling and consequently missed at least one significant hotspot by a mere 10 meters.
That's not to knock VMS though. There isn't any other company that has been able to target PGE's as well as Chalice, so it's unfair to expect a tin specialist using traditional techniques to find such elusive precious metals in traditional ways.
Andrew has already stated in interviews this year that he had pegged Thor & Odin for Tin & Lithium, then been scratching his head when the drill pulled up too much nickel. (REF Coffee with Samso Episode #83 re Julimar's Twin Brother @ 7:10 to 8:10)
As explained in that segment, he had already been considering a JV partner with deeper pockets to help figure out what was going on, but they had been struggling to figure it out too... and coincidentally that's when Chalice knocked on his door. Alex had been chasing chromium within 100 kms of ... blah blah blah, that whole checklist which thrust Thor & Odin straight to the top of CHN's wishlist, when many other alleged lookalikes and nearology plays did not (and still don't).
And considering that the Gonneville tip of Julimar started out a bit smaller than the Tor tip of Thor, and has had 6 to 8 drills working 24/7 for more than a year, yet every time they sink a drill into the dang thing it just keeps growing - I'm guessing this must look rather enticing to some very big international players too.
So I dare say, if Julimar turns into any kind of brother to Julimar... big brother, little brother, or even baby stunted brother who sits in wet pants half the year.... I'll bet the games to gain control won't stop at mere bot trading.
But I'm biased as a wee little shareholder in both, so they won't even feel a crunch if they stomp on me. Hence the defensive novella, so apologies.
Like it or not, perhaps any new nominations to the BOD will be interesting to see; especially if they are coming from one of the big 3.
On the other hand, Chalice have been sweeping up a hefty basket of new tenements in many areas which match their checklist, and in that respect, these two new ones were probably the easiest to predict as a junior speculator.
DYOR.
VMS Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
(20min delay)