Wow, we didn't get any assay results - but straight to the Resource Upgrade which is now 30,500oz and open at depth.
Another interesting note: "Exploration at Bellchambers is ongoing and studies will be instigated, Venus has agreed with Rox Resources Ltd to negotiate a mine gate sale agreement for the Bellchambers deposit on a best endeavours basis".
In other words, a future toll treatment deal? Current AUD gold price is $2950ish. If VMC could could strike a deal to make $1000 oz out of this, they stand to raise $30 million in cash - as much as the current market cap... The deal last week was the same - they stand to benefit as much as the current market cap from the other deal alone.
Should the SP be 35c here perhaps? It doesn't even take into account the HREE or the potential of the ground next to DRE which they have identified as needing to be drilled.
Market asleep here?
VMC Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
