good news on vre

When I read the AN today I thought Yes, good move, pity to lose CH but we should be home and dry now by late March if not sooner. Yes it is a tad dissapointing to loose CH but better to get paid a sensible sum, eliminate debt and get on with the main game which is and always has been Bronzewing.

I dont post often on VRE, I hold a significant quantity of VRE shares and understand the feelings that many feel only too well. Clearly many who post do not understand how companies operate, how difficult start-ups are and how critically important cash flow is.

Predictably VRE have over-run their start up costs as has virtually every other mining company with new projects in the world in the last 24 months. That they are producing in line with their business feasibility assumptions is a statement that most dont seem to understand the importance of. This is really good news, they can get the forecast production and they have a plan to bring costs and cash flows back into line with their plans.

VRE had been in a frantic race against time since operations began, they fell behind and have now paid the price in loosing a share in CH. That said, they have cleverly, in the face of adversity, put VRE in a position where it can trade it's way into profitability. Given the limited choices they had they have done the right thing IMO.

I suggest that many posters who dont quite understand all of these moves join the Indian cricket team and have a Bex and a lie down for a few weeks. All will be resolved in the fullness of time. Today is not the end but a new beginning.

But who am I with 35 years financial and mining experience to advise the chookies of this world!!