How do VMS pay for the tin?, page-14

g’day Watchful bull.

i like your thinking. Anything’s possible.
good to know the capex is relatively modest. Agree, likely nearer that $80m marks now.
banks never lend 100%. They want lots of skin in the game; ours. So CR inevitable. But if they can scrape some $ from somewhere, that would help sentiment a lot. But as you say, quite a while away.

not sure where they are cash wise. They had $9.5m end June q. Would have used some of that paying for last bits of construction. Plus the recent $5m in. Was $5m the total payment or a partial one?

someone mentioned a line of credit? and that they had drawn on it. No sign in cash flow statement as it needs to be. No announcements since quarterly either. So I doubt that’s right. If it is, could that poster please advise details.

so we have to guesstimate how much of that $9.5m was used up to now, then add the $5m; so somewhere between $5m & say $10m. Enough to last for quite a while and maybe do a bit more drilling to increase value of those 2 WA properties. Plus some to continue the tin development, while they try and raise the rest.

they need to come out and tell us how they intend to proceed, a strong positive statement and a believable plan would help get SP moving in right direction. A decent offtake for the tin, with maybe a bit of finding included as IO’s sometime do, would also be a big help. Any word on offtakes in previous announcements?

we need to get the SP/mkt cap as high as possible before the inevitable CR that the banks will insist on.

cheers,

ned.