I currently have no exposure. I own PDN, but still watch VMY.
I bought these stocks because of my contrarian style. I thought i might have timed it right but what I have realised is that these guys are pricetakers. They can't proceed yet due to pricing of contracts either too low or stagnant discussions. Not sure which.
I think Forrest family investment is an endorsement but he is worth billions and to AF this company would be a tax write off. Essentially He has planted a seed and wants to see if it grows. If it doesn't, AF can average down or sell it down. This is the way they play this stuff unless ...Uranium fires up and that would make owning VMY a call option essentially.
I don't believe that management disclose enough operational stuff and in particular in relation to the US postings.
MY doesn't convince me on the execution side and I think may not be a dynamic MD because it seems he is content to continue selling the story and also add the imbalance to the story by quoting diversified mineralization results in the recent announcement.
This brings me back to timing. There is no doubt there will be another capital raise. I doubt we are anywhere near a JV scenario. The $1000000 question is will it be sub 3c, or around 10c. Which brings me back to what has MY got planned as a catalyst that could come left of field??
