@izu is not contending the facts surrounding the reasons why the tenement was surrendered - though for some reason you seem very intent in almost shouting - "I was right, I was right". Let's move on. Izu was only stating that you had an agenda, and as a 3rd person looking into this conversation, it certainly seems so at a glance. But let's consider the facts - APS management screwed up when they became over confidant about this tenement, they learnt otherwise, and have moved on since. I sincerely think you should move on too.
Coming back to the main reason I am posting here for the first time. I'm quite interested in Silica and mineral sands as a long term investment. Silica sands especially have the following prospects in their favour - they usually are very long term (LOM in decades), generally have a lower environmental footprint than most other commodities (E70/5455 being the clear exception), and have a very low CAPEX threshold. Their processing is very simple generally not involving chemical processes, thereby having simpler construction and commissioning processes.
I am currently invested in Australian Silica and Quartz, due their foray into High purity quartz as well as Silica sand. In VRX Silica - decades long LOM, though it is making slower than expected progress with the EPA.
There are other contenders out there for investment, but if you consider Carbine Resources, they seem to have been tagged as a 'life style' company with a lot of 'grabbing for control' happening, at least that's the impression I get from holders. Then we have Perpetual Resources who seem to have gone of into the rabbit hole with the myriads of tests they are conducting on sub fractions of their deposits, with no chance of a PFS on the horizon. I'm usually of the opinion to start simple and then value add, but I guess management knows best and I am but a desktop warrior . This essentially rules out PEC and CRB for me personally.
If I go for plain facts and forego the recent snafu at Quinninup, this company has a lot of potential. Once again, its a junior explorer and if you invest in one, be prepared to loose it all. This includes VRX and ASQ - even though VRX is far more advanced than any other contender in its LOM class, it still has to pass through the EPA's brand of fire - and this, is no easy feat. A lot of investors hardly consider that one of the two key biggest risks after a junior has a PFS, is getting a permit and financing. Nothing's a given, especially in the current macro-economic $hit-storm. Investors are currently shying away from any company that is in the process of getting large (> 500 million) amounts of CAPEX, irrespective of the paper based NPV. Which, in turn, is why Silica juniors are in that enviable position of needing very small amounts of CAPEX relative to other resource types.
Coming back to APS - it has some brilliant potential in Sparkler and Dune Buggy. Sparkler, due to its 70 mt resource at some insanely low levels of Fe, and Dune B due to its proximity to port. Having gone through their other tenements, they have a lot of potential to be another VRX in the making.
At these prices, might just be what the doctor ordered .
APS Price at posting:
9.2¢ Sentiment: Buy Disclosure: Not Held
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