Here are some things to ponder Whilst I agree management have been a bit lackluster in the whole manage the company department, we have good land and good prospects. How management move it forward from here is another matter all together
Riley- Just a matter of time before IO finds it's feet again and Riley re opens. This would provide much needed revenue for the company. As to when, only God knows.
Mt Lindsay- We all know there is a major Tin resource in the ground and will only get bigger with time and more drilling. Tin prices will not in my opinion move backwards, the demand will far outstrip the supply especially with the new ESG requirements. We will also be in line for major Govt funding. What is currently lacking is the plan to move this forward and to explain to the market how we are proposing to extract the tin, CAPEX costs, timelines etc. This is where management have not been pro active enough and the market has reacted accordingly. If a minnow mining company had just discovered Lindsay, they'd be a darn sight more then $66 mill MC. I just think the market has had enough of the procrastination and non commitment to anything firm from our management.
Thor- This one gives me hope in that someone with runs on the board are dealing with it. If at some point CHN announce they have in fact found another Julimar, it would have to be worth 80c to $1 to our share price using CHN's discovery of Julimar as a baseline.
Kulin- I have always maintained that this could be the dark horse in our holdings. If CHN discover another Julimar at Thor, watch the flutter of activity suddenly happen at Kulin. One of my friends who has over 20 years experience in the mining game strongly believes that the epicenter of the resources in this area could in fact be at Kulin. Remember we own this 100% ( currently) . The only way to find out is to stick some holes in the ground. If proven correct, what would this be worth. Again we need to take that risk and spend some money on it. We are an explorer , so let's explore.
GGN- This one has gone all quiet, from what I understand we are still waiting for more drill results. My guess is we will likely sell GGN and put some cash in the bank.
Livingstone- This just appears to be on hold at the moment. Maybe we can find a buyer for it and put a bit more cash in our pockets.
As you can see, the potential is huge but currently our share price doesn't reflect this. Like most, I am down a fair amount after the price tanked when Riley was placed into care and maintenance. But I still have hope that the gap between potential and reality will close in due course.
Hope this helps.
VMS Price at posting:
4.1¢ Sentiment: None Disclosure: Held
(20min delay)