Ann: Colossus Cupim South Step-Out Drilling Yields Best Results, page-39

the issue is ree prices and the Npv of Mei scoping study. At the moment Mei is valued at 200 mil and Vmm 54 mil, both fully diluted. In the short term Vmm downside risk is far lower that Mei. Mei at 51 k per mt nd-pr only gets you a Npv at 8 percent discount of 16 mil. Whilst I believe there can be immediate improvements, it could be taken down closer to 100 mil mc.
however Vmm at 54 mil and a scoping study at 51k usd per MT nd pr should get a 100 mil valuation by utility better met results and using a 4000 ppm at 28% than what Mei had for the lom. On this basis the market will bring Vmm up whilst continuing to bring Mei down. The question is can Vmm infill drill cupim south to include in scoping study and provide resource updates. I really hope they learn from market reaction to Mei and sector.