Looking very good on all fronts.
Selling volume decreasing and then rebounded of the low on increased volume.
Hit the resistance point. IMV might work its way within that ascending triangle . $2 range being the point it will run if it breaks on.
Still in a massive long term uptrend.
Huge news flow in December with the next lot of assays noting our second round of drilling may now have been done with slightly better clarity of just where the thick and higher grade areas are.
Next lot of met work will give us an understand of how the REO recovery spatially and across the depth. Given our excellent recoveries on the surface (which is not the enrichment zones) i expect that met work will prove my thesis that the recoveries will largely reflect those of MEI given these are very proximal in location.
I wonder if there is much ground left in the complex? Not that VMM need more - They already have enough tenure and hits to probably delineate a resource 20-30Y LoM. When you're grade is 3000ppm you need only run a 5mtpa plant to get very good TREO T out the back end. a 200mT resource is 40Y LoM at that rate. I can see us easily exceeding that in time. Just a case of some time and some further drilling.
The in initial MRE will be the IMHO where VMM gets a real re-rate as it can then be compared on paper against MEI/BRE etc. At the moment it's discounted based on the fact we need a bit more time to drill enough holes is proximal location and have all the assay back to allow an MRE to be delineated.
There won't be many excuses that VMM can't be similar MC to MEI then. As in 6 months, we may very well have confirmed the met work and resource similar, equivalent or better. (I note that the MEI's drilling program will also probably double their resource in time as well but not sure the market has fully factored that as yet.
Supporting other comments, would be great to stick the T/A to this thread (one without a non objected thread title and likewise for the general discussion.
Hope everyone is doing well.
SF2TH
(20min delay)