dont think they need to do a cap raising though, pretty sure there are plenty of spondoolies in the bank for the moment.
I guess one of the things that these guys do is jv's or vending projects out. I read an article where they claimed they didnt want to be miners because of the risks involved. ie how many times has a company soared on discovery and then completely died because recovery costs were more complicated or expensive than anticipated. it happens alot.... so thats the reason why they do this.
The upside is that it allows them to keep their fingers in many pies with often a small outlay and a decent return. The downside, well the downside is they gave Youanmi away way too cheap. You are right though in that they still have a massive chunk of land in and around Youanmi which is either 45:45 with Rox or 100% Vmc, not to mention a bunch of other potentially decent projects.
They also have a couple of billionaires who hold 5% each I think and you would think they are expecting a return.
So yeah they are not perfect but there are still many reasons to hold
VMC Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
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