iron ore resource strategy

With the first resource due to be released in the coming weeks, lets hope that VMS also release details of their resource target for the project.

Other companies who have done so recently have seen sharp spikes in their market caps as a result - FDL, MXR and today EPS just to name a few. Doesn't matter whether its hematite or magnetite, pure spec and requiring major infrastructure, it just comes down to large targets in the hundreds of millions of tonnes.

VMS is in a better position than these other companies in that any exploration target they release will have instant credibility given they will have delivered a JORC compliant resource confirming their model.

A +20MT resource and +200MT exploration target would be a great start to get the wider market interested in VMS.