VMM would happily release their PFS before MEI if they could Tezza, they have done everything in the power to close the timeline gap while minimising costs and have done well considering MEI's major headstart.
You'll find the scoping studys really showed how MEI still had work to do on their resource before they could match VMM's metrics which has caused delays in them finalising their PFS as it was originally scheduled for the start of the year as well as the extra costs associated with further drilling. If there wasn't vmm to better they would have finalised the pfs without the extra drilling imo so it's actually good to see friendly competition bringing out the best in one another.
VMM was very lucky to be able to sure up such a good high grade component so quickly as their low market cap wouldn't allow for efficient drill capital from equity if it was required. In a perfect world if the share price wasn't near a all time low im sure management would have raised enough to be drilling along side mei increasing resource and confidence which would help create more of a buzz in the company but they're waiting patiently for the right time to avoid crippling dilution which shows good self control from management imo
I think both PFS are going to be stella and both mines will be developed.
gl
VMM Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
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