AE23.. Radonjic is a poor manager and his math is even worse.....

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Jockoknows

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27/11/23

08:02

Post #: 71117012
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Originally posted by AE23: ↑

The only real hope as I see it, is if by some miracle they actually discover something worthwhile.

But this management unfortunately is as incompetent as any management I've seen.

If we survive it will be through good luck and not good management.
For years, AR sprouted how Lindsay is the flagship of the company and our main focus.
Now he's on Boron and REEs.
What I see is a desperate man throwing as many darts as he can in the hopes that one will land. Pathetic and unacceptable.

I'd like someone with more knowledge then me to provide a comment if possible.
The original feasibility for Lindsay showed it was profitable. But now it seems we need the boron results to be added for it to be a viable mine. How I ask. Tin is at a much higher price. We are now looking at an underground mine rather then an open cut which by all indication has a lower Capex. So how can we now be in a position where we are relying on another discovery for it to be feasible.

This leaves a bad taste in my mouth.

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AE23.. Radonjic is a poor manager and his math is even worse.. They have grossly miscalculated the Riley IO extraction, which in my opinion is done.
I think they are clueless with the tin mining at Lindsay as well. (no progress in 12 years)
Is their focus on mining minerals? I don't think so..
More focus on cap raisings for some exploration and their salaries. So much easier sitting back and having contractors do the work.
Remember folks, he is sitting on the board of a couple of other companies milking salaries. He is a busy man, unfortunately we don't have his full commitment to VMS. Greed is just one of the many reasons for the demise of this company.

VMS Price at posting: 1.1¢ Sentiment: None Disclosure: Held
20 Upvote

0 Great analysis

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