I think probably driven by the leverage. As an example - if VTX hits $1 (I know that's a big jump, but at 30,000 oz per annum it's not an outrageous target). Then very approximate calculations: VTX: $1.00 / $0.295 = 239% gain VTXO: $0.85 / $0.17 = 400% gain VTXOA: $0.75 / $0.10 = 650% gain
Probably why there's been a bigger run on VTXOA recently (the leverage benefit was even stronger when it was down in the 7/8c range).
Overall this has been a nice strong move up. VTX continues to be more and more de-risked as we progress through and I have to say management in the past month has really just focused on executing.
VTX Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
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