P A. benefits of the doubt squarely rests with what's going on in China...not in Nth West Tas!
We know why the IO price dropped so dramatically, and stopped Riley production. We could try and say..."Well, we missed a big opportunity." BUT, that only lasted a few months anyway. Just check the graph. We need a consistently high enough IO price over TWO years, at least, then Riley can function...which it it might if China sorts out it's economic affairs, and unnecessary wars cease.
Riley is ready to go, after being set up. That's one plus.
Other positives, which do not belong in the past, and only temporarily in the present, are the essential PFS/ mine plan study in progress. This is a present and future course of action. To be followed by DFS, BFS, FID. (BS does not belong here! Just whatever is necessary to lead into production),... and Mine construction. The rising tin and tungsten prices...both well within the profitable range are strongly supporting this future plan.
Our #1 shareholder, Dale Elphinstone, for one, is not going to be satisfied for this mine opportunity to fail. His company's mining expertise with suitable equipment is a perfect inclusion in our mining plan. Sorted. There are many other serious supporters on the share register. We just need to get on with every necessary step. This is now in active progress..thankfully. All needs sufficient time to pull it together.
Why not??!! I don't see the purpose of bashing our BOD,( apart from giving an extra prod with a pointed stick), when they are in the midst of the urgent planning stages, with relevant expertise in place. This chance to succeed has much weight on our side:---
The need for critical metals outside of China, (a new position), positive prices, IO on the way up again. shipping costs down to reasonable levels, AUD down in favourable territory and all the other factors of Mt Lindsay potential and our other tenements.
This is a lot to digest over the next 3 years and beyond. AS our perennial friend Hoaxy might simply say...."PATIENCE...."
All criticism here may have relevance. It will contribute to a greater determination for VMS to succeed...against any perceived odds. And yes..the odds do exist! The Pandemic was one such interference. When have we seen such a Global lockdown scheme...suddenly imposed, and cowered to?? Why did NATO and Ukraine not wish to agree to the fairly brokered Minsk 2 accord, and unleash havoc on world energy supplies? We are up against massive forces here, outside of our control. But, Opportunities are also presenting. We are more so in a position to capitalise; still unfolding needs to be met with metals.
The need for sustainably produced tin, tungsten, copper, nickel, PGM's in some of the worlds best mining jurisdictions remains active, now and into the future. VMS is on this trail.
GLTA
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that VMS eventually, if ever, mines.
(20min delay)