VAU 0.00% 34.5¢ vault minerals limited

Brian, there was never going to be a "another price jump". The...

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  1. 748 Posts.
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    Brian, there was never going to be a "another price jump". The price jump will occur in the Sept Q when the FFS is tabled. And this Q report is far from underwhelming, almost sensational. Loads of information on the progress of Darlot (especially Burswood), KOTH, and the FFS.
    The "steep increase that we saw from 24c" was just a normal fluctuation that we see in gold stocks, and especially Red, from time to time. IMO the fair price for Red' until the FFS is tabled, is 34 cents.
    Focusing on the lower than expected gold production of 23,436 oz, Keep in mind the present POG. I would suggest the stated scheduling delay of the high grade stopes, which is the stated reason for the production drop, was caused by ore blocks, previously uneconomic at the depth of Oval West, becoming viable to mine. The original mine plan and stope scheduling for Oval West was formatted in late 2018 when the POG was around A$1700 per oz. With the present A$2,100 + per oz a whole new set of blocks suddenly become economical to mine. These took precedence over the high grade blocks so they could be mined and processed while the POG is elevated. The mining of the high grade blocks were rescheduled to the March Q. Evidence for this suggestion is the lower grade of ore mined and increased tonnage(+15,000 tonnes) indicating that the ore came from blocks other than the high grade blocks at Oval West.
    From your post its obvious that you don't understand how Red works and what's going on, in which case you should reframe from talking the price down. Focusing on the price and not the fundamentals is a fools game.
 
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