Hey Bowfin, with your knowledge how much does it cost to mine...

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DarthVadar69

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17/10/21

10:21

Post #: 56856309
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Originally posted by amiafish: ↑

Tin was trading around $20k/t for the last five years...nowhere near enough to sink $200M into an open pit mine (which was what Mt. Lindsay was designed and costed to be). First of all, nobody would have debt funded the venture at those prices, and given the share price at that time, CR was not an option at all.

You could argue that they should have sunk more drills into the resource to prepare for the rosy future (our present), but with tin at $20k/t, and no ability to see into the future, that didn't seem like the best course of action at the time. Instead, they secured some promising tenements in WA, which are still potentially more profitable than Mt. Lindsay. And now, given tin is tipped as going into a super-cycle, the support (from Govt, investors, lenders) for developing Mt. Lindsay will be a lot stronger than it was then.

Management of VMS has been far from perfect. But trying to get the tin out of the ground in 2015-2020 would have been galactically stupid. As a LT holder, I'm very pleased they didn't follow your thinking, and instead waited for the commodity cycle to come around again.

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Hey Bowfin, with your knowledge how much does it cost to mine and produce a Tonne of Tin? Last 5 years as you have stated it was hovering around $20k and given the Aud has been good for this whole time ($27k aud) is it not a good time to raise with a substantial resource? If it's break even I understand and will launch back to outer space. Even Stevie Wonder could see where the Battery / EV industry was heading.

VMS Price at posting: 5.1¢ Sentiment: None Disclosure: Not Held
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