My point is that if you look at VMS and their portfolio of tenements, and you conclude "hmm, this is a nice way to get some exposure to IO", you're a pillock.
It would be like being introduced to Charlize Theron, and coming away with the sole impression that she has a pleasant speaking voice.
The VMS story is about the Mt Lindsay tin and the CHN joint venture. They are the company makers, the IO is simply a small source of potential cash.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-64
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