Matty doesn't develop mines. He's a tenement trader and JV deal maker. If Mangaroon is a real discovery and potentially commercial it will be sold or joint ventured with Venus being free carried, So getting instos involved in projects regardless of the need for their cash is the Venus way of doing business. The placement discount is high so we have been diluted when a rights issue at the same discount would have been fairer. As a positive it's good to see the strong cash position.
VMC Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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