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Ann: Chalice commences EM program on Julimar lookalike target, page-84

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Boen747

488 Posts.

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28/04/21

14:05

Post #: 52783254
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Originally posted by reach_k: ↑

Excellent work @Boen747.

I was the throughput analyst for one of the iron ore majors and these numbers look great. (Even greater when the iron ore price just hit record high again.)

From a production perspective 1Mtpa is like a baby. An iron ore ship is typically 40kt to 100kt. Hence the production risk should be lower and this should also provide them enough time to ramp up as they only need to sail about 10 to 25 ships a year to meet target.

IMO, the current market cap only reflects the iron ore production. With record tin and record copper price, the market cap should be well above $200m. I also like the managing director's tone in one of the interviews. He interrupted the interviewer and gave the story of Billiton, who's root is also from tin. This is a subtle hint about VMS's ambition.

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I believe 10c per share would reflect the Riley iron ore production @$170USD p/t (120M NPV).

Getting Livingstone further defined as a resource could potentially double the amount of Iron ore we have. With the plant, roads and shipping contracts already in place for Riley it would be a no brainer to get this project back on the table.

VMS Price at posting: 8.5¢ Sentiment: Buy Disclosure: Held
18 Upvote

0 Great analysis

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Last 1.3¢		Change 0.000(0.00%)		Mkt cap ! $34.72M

Open	High	Low	Value	Volume
1.3¢	1.4¢	1.3¢	$42.26K	3.250M

Buyers (Bids)

No.	Vol.	Price($)
1	19172	1.3¢

Sellers (Offers)

Price($)	Vol.	No.
1.4¢	1145286	5

View Market Depth

No.	Vol.	Price($)
1	19172	0.013
10	3895173	0.012
18	8664822	0.011
14	5805099	0.010
10	5309333	0.009

Price($)	Vol.	No.
0.014	1145286	5
0.015	1275107	4
0.016	1174330	4
0.017	800000	4
0.018	925011	7

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