Alas VMS will not mine iron ore if the price doesn't go up. Hopefully that will happen,
Tarkine greenies are a boon if you want to average down.
Tin mine now needs money. As someone said earlier...they now need a partner. The iron ore episode is a disappointment (for now anyway).
Not trying to downramp....but VMS are now looking at other avenues to keep their staff working. (earning their salaries)..
because (IMHO) they can't do bu*ger all unless they get a partner. No bank is going to give them all the money they need when the price of tin doesn't match the Feasibility study. Nor would the company want to mine in the present price scenario. that DSO iron ore was their saviour and now it is gone.
Mind you....the company does have enough funds to stay afloat for some time without a CR.
Ann: Riley DSO Project Update, page-34
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