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clock Created with Sketch. 08/12/23
14:22
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Originally posted by LeonidasBellas:
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This potentially may have been the reasoning behind the unprecedented selling today to what was such a great announcement and results.I think there may have been an incorrectly labelled drill hole in the previous Ann that the market potentially may have misinterpreted as bad in the current Ann when in actual fact was just an error with one of the labelling of the drill holes and its a totally different drill hole altogether from the current recent Ann was just previously labbeled incorrectly See my email below which i sent to Agha just before for reference: Hi Agha, Just wanted to reach out regarding the recent announcement which was released today regarding VMM’s exceptional discoveries at the Colossus project. To be quite honest I was completely puzzled when I saw the reaction from the market during todays trading on the ASX, as the discoveries detailed within the announcement seemed nothing short of exceptional. Upon further reading through the announcement I managed to identify a potential error with one of the drill holes which may have been what may have spooked the market. See attached the 2x separate VMM announcements which I have marked up with the potential errors for your reference. You will notice in my enclosed markups that the VMM Announcement which had been released on the 20th November 2023 shows that the drill hole which is labelled “FZ-DDH-004 (60m of Saprolite)” to be in a different location to that of which is currently shown in today’s recent announcement. Further more when you look at the previous VMM Announcement (dated 20th November 2023) at Figure 2 Section A-A it shows this same drill hole in the correct location but labelled differently as “FZ-DDH-005 (60 Meters saprolite profile intercepted)”. As such my suspicions is that the drill hole “FZ-DDH—004” label on the map plan view was meant to be labelled “FZ-DDH-005 (60 Meters saprolite profile intercepted)” Now I know this may seem like a minor marginal error, however I strongly believe that the market is currently misinterpreting the results shown in today’s announcement due to the potential error as the result for drill result “FZ-DDH-004” in today’s announcement stated that this hole achieved 15m @3,559ppm TREO. The same drill hole mentioned in the previous announcement had been shown in a different location to the current announcement all together and was outlined to have intercepted “60m of Saprolite” which is a significant difference to what the market was under the impression this particular drill hole was going to achieve in this location. I could may very well be wrong, however if you are able to please just look into & check the above and if in the instance there may have potentially been a discrepancy or error somewhere along the lines with the labelling of any of the drill holes referenced in the previous & current recent announcements as per my markups attached, if you could just update & notify the market by way of a clarification ANN as this would most likely clear up any ambiguity / uncertainty to any of the investors. Also, just would like to take this opportunity to let you know that have been extremely happy with the way management & the team have all operated and conducted themselves to date. Everything that has been set out to be achieved has been done so in a very prompt and efficient manor. Extremely exciting times ahead for VMM. Look forward to seeing the remainder of the results come through! Appreciate your assistance with this, and please, if you have any queries regarding anything at all, please don’t hesitate to contact me. Thanks
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Hello. FZ-DDH-004 is 15.0m @ 3,559ppm TREO [33% MREO] within broader section of 33.5m @ 2,509ppm TREO from surface FZ-DDH-004: ~60m of saprolitic clay at Fazenda prospect ". Therefore, the 60 metre visual became a 33.5 metre lab result. That is OK. age 14 of the 20 October 2023 announcement, t he East and North drill hole location data appeared incorrect here.
CJ-DDH-001 is for Carijo and should be in the 758 northing instead of being at 7576044.081 north. CS-DDH-002 is for Cupim South and should in in the 757 northing, similar to how CS-DDH-001 is in the 757 northing, at 7575412.584. CS-DDH-003 is for Cupim South and should in in the 757 northing.
Last edited by
GKeden :
08/12/23
