There's a bit of exploration action around Carnilya Hill at the moment. MCR are quite agressive & have just spent $2.5M on diamond drilling the deep down-plunge extent of the mine (which is on C&M). They have had good hits that are in the public domain. VRE are in for 30% of a JV arrangement (I think?) & would contribute working capital & operational costs on that basis to a restarted CH mining operation. I reckon that this is just around the corner as it would fit nicely into the MCR nest of Kambalda mines. My estimates of VRE's share of the resource are worth multiples of the current marketcap on a good day...& that's without considering any gold. I've reckon the options are a good punt & well leveraged to MCR's aggressive exploration strategy. Patience grasshopper. Hardrock.
VRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
