Thanks Carna...appreciate you filling in some stuff there. Well,...

Thanks Carna...appreciate you filling in some stuff there.

Well, considering management came from copper, it's no wonder they fluffed the timelines on silica. Knowing that copper mines take an extreme amount of time to drill and permit, silica would probably seem as though it would be a walk in the park. Shallow drill holes and surface mining. What was not counted on I suppose was the fluff and bureaucracy of the EPA becoming harder as well as its inefficiency. And that it is just as stringent for silica as it is copper.

What I do like is that they were successful in drilling out a resource and selling it on to a larger company. Probably should have got more for the deal but it was the lows of 2016 for mining. Whoever has the demerger is sitting on some nicely banked royalties for the future. This should have sat with the company and been a value adding asset. The question left hanging is who ended up with the asset and were shareholders of VRX included in the demerger? I find that important to understand whether shareholders benefited, or it ended up as someone's retirement fund.

I have a strong feeling that VRX would be a juicy target once derisked. I expect an offer on the table at some point...While the past may not predict the future it can give us a good idea of the baseline. I would hate to be in a down turn, have an offer for the projects, which is accepted, the company turns to a different commodity and hey presto all the benefits are de-mergered because we went into say a geothermal energy only play....Get where this is going...and investors are left with what? And we are talking a hundred years of profits.