agree VMP, really doesn't matter if SPX were looking at the asset before VMC or not, possibly they looked into it prior & didnt go for it, then VMC approached them to strike some type of deal, problem here for SPX is "The information provided to Mr Bosio and Mr Adams included information about Penny West and the Company’s (VMC) proposed acquisition of Penny West." So VMC has approached them with some type of inside info about the mine & the intention they were going to acquire it. Then the next issue The Company (VMC) provided the information to Mr Bosio in his capacity as a director of DJ Carmichael and to Mr Adams in his capacity as “Technical Adviser” to DJ Carmichael. Venus Metals and DJ Carmichael signed a Confidentiality Deed. At that time, both Mr Bosio and Mr Adams were also directors of Spectrum (SPX) They signed a confidentiality deed what terms they were under could be the kill shot as within 2 months later they have taken the asset themselves.
For now strange trading today (well for consistently under-performing VMC its pretty normal), market is barely pricing in a chance VMC is successful with the sp selling back to .18, but at the same time dropped SPX by 23% showing some are worried, market looks like it wants more info, would expect a strong denial announcement by SPX soon & more threats to sue VMC to try bring calm & boost the interest back into SPX sp, then at the same time VMC to release more juicy info, hopefully VMC have big ace card to reveal as this is how they came to the market yesterday:
VMC Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
