Totally correct PA I wasn't going to post for a while but I thought I'd have one more post for all the trolls who think they're having a great old time at the moment at VMS shareholders expense. Enjoy while you can. The tide will turn in due course Just for the record I picked up a few more at 4.6c This post is also for the shareholders who are frustrated and losing hope. I am one of those shareholders, so it's good to re evaluate every now and then
Firstly it's a bummer that Riley is temporarily on hold but not in anyone's control where the price of Iron ended up. Remember it was over $200 , who would have thought only a few months later it would be below $100. Yes I know the plant should have been on line sooner but shit happens and sometimes things are out of peoples control. But rest assured IO won't stay at this price forever. The world is slowly coming out of lockdown, which means infrastructure upgrades will be high on the agenda to get their economies firing again. IO is crucial.
NGG- We await test results and if the thickness and depth are good, I would imagine there would be some people very interested in buying this tenement. Fingers crossed. If so this could solve all our financial requirements. The next few months will be interesting.
Kulin/Odin- I've always professed that this is my dark horse for this company and I'm still sticking to that theory as are several friends who know a bit more about geology then I do. EM's and drilling is likely to commence soon enough. If Kulin is similar to Julimar or better still if it's the epicenter of this whole area, what do you think will happen to our price. Only time will tell if in fact its as good as I'm led to believe.
Thor- CHN will need to get their asses into gear to spend the $300k plus by November or they forfeit their 70%. They will not be granted an extension. I for one hope they don't meet the deadline. There is a reason why they were keen on doing a deal with us. The EM's so far are almost identical to Julimar but more work is required. Whether its 30% or the full 100% VMS stand to reap a massive reward if it is a Julimar lookalike
Caesar- VMS haven't actually walked away from this tenement , only a portion of it. We have kept the area where our original drilling showed some promise. Watch this space
Mt Lindsay- Our flagship- Firstly let's start with what we do know. Based on our JORC and current prices we have approximately $5 bill in resource in the ground for Tin, Tungsten and magnetite. This doesn't include copper. We have now drilled an additional 3 holes to further expand the size of the resource. The results are pending. If as the visuals indicated coarse tin, it changes the ball game again. Also VMS plan to carry out even more drilling to show the real size of Mt Lindsay. As for peoples wild assumptions about setting up the mine, we do not need the full $50 mill plus up front. It will be done in stages and everyone forgets the Govt needs this up and running ASAP. They will expedite approvals and we are in line for some serious funding to get the ball rolling. There is no stopping Mt Lindsay being mined. Where do people think Tin prices will be in approx 18 months time. A lot higher I would imagine.
I do understand nothing is guaranteed at this end of the market but VMS certainly have the goods to succeed. Do I believe management can do better , yes I do and I've made my feelings known with several of my previous posts.
I hope this post helped provide some light at the end of a currently dark tunnel.
Like PA it's time to take a break from HC until things start to heat up. As for the trolls, enjoy it while you can.
Please remember this is not financial advice and everyone's circumstances are different but I haven't sold a single share because I believe VMS will still succeed. Just patience and a bit of luck is required.
VMS Price at posting:
4.8¢ Sentiment: None Disclosure: Held
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