Great to meet a fellow shareholder at the AGM and also Agha in person. Had a great chat with Agha and he answered a long list of questions. Walked out of their very impressed.
Some notes from what I can recall off the top of my head:
- They are looking at acquiring more land. This came across very strongly and caught me by surprise given VMM tenement holdings are already substantial. My impression is they are looking to obtain a similar land holding to MEI. Agha did mention that this is what the funds are interested in (of which he has had some discussions already).
- I asked about the next cap raise and he mentioned they will be looking to get a cornerstone investor on board at some point, likely early next year.
- There is currently $2.7m cash in bank, fully funded through phase 1 and phase 2 drilling as well as MRE which is still on track for March
- Looking to have both phases of drilling complete before Christmas, everything currently on track.
- Tim Harrison from IXR provides guidance, and is extremely important to have on the board as a non executive director. IXR technologies could play a role in downstream work here at VMM
- There is an extremely strong focus on relationships with the key families in the region. VMM have approached this the right way which is why they have been well received.
- The VMM team is up to 8, and there are a total of 40 when including drilling contractors.
- Future drilling will be AC/RC and potentially diamond, not Auger.
- I didn't quite catch where the drilling is still ongoing, I think it was Cupim South
- They will look into providing drilled/awaiting assays/yet to drill maps into their announcements
- They will look into providing NdPr and DyTb specific values in their announcements.....
That is everything I can recall for now
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