VRX

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3.8¢ vrx silica limited

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beisha

5,702 Posts.

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16/11/18

18:11

Post #: 36537211
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Originally posted by mabrook ↑

We are now about 3 or 4 weeks overdue on news on Jorc Muchea and the 3rd round of sand tests.
I have had a long think about what could be the possible delays, and the delays in my opinion can only be good.
Lets not forget that 3 Directors are wanting options at 17c and are willing to stump up an aggregate $1.8 million for them, they wouldn't do that if there was a problem or bad news on the horizon! Plus, they have already invested their own money in shares and an earlier round of options and cap raising.

I can only think the delay is down to:

Muchea Jorc. Personally I think this is unlikely as all of the drilling was done months ago during our due diligence period before the vote. I woud imagine the number have been crunched by now.

Or:
The 3rd iteration of lab tests on our silica is still ongoing, they could well be trying to to to 99.9% or beyond..

I agree Mabrook, i have seen a number of leaky jorc/pfs/dfs with a number of stock that were exposed and dumped accordingly, get it right the first time, iron clad
Most likely cause in my opinion, they need these results to add to the published Jorc.

Or:
V are in discussion with prospective Asian clients regarding off-takes. We having been shipping refined samples for the last couple of months at a rate of 3 a week.

Or:
V are in discussion with an Asian Company regarding a JV, they may want to secure a long term supply.

Or:
A take over offer is still in early stage talks. Personally, I also think highly unlikely at this stage.

Therefore most likely causes are test results still ongoing, or locked in discussions regard off-take or JV.

Relax, its all good new imo

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I agree Mabrook, i have seen a number of leaky jorc / pfs /dfs announced by many a stock recently, they were exposed and dumped accordingly, get it right the first time, iron clad and it will be well recieved by the punters.
Personally i think this jorc will be a ripper, no guarantees, nothing is in life, but as i said before, i sleep very well with this bad boy under my pillow.

GLTAH AIMHO

VRX Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
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