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47.0¢ viridis mining and minerals limited

It's crazy to.think we are 1/4 of MEI and still getting...

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furansu

986 Posts.

83

08/07/24

22:31

Post #: 74662635
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Originally posted by T2CupAndHandle: ↑

Seems like VMM was dragged down hard today after MEI’s scoping study. I think the market was expecting a much lower capex for AMMSUL washing. MEI’s brokers were pumping a usd $200-250m capex and it came in double that at $400m US. If you look at penco and carina scoping studies, which are both AMMSUL wash in South American locations, MEI’s capital intensity was pretty much bang on. Obviously brokers don’t do any research..

back to VMM, I think we have three advantages compared to MEI:
1. no private royalty (4.75% for MEI off revenue!)
2. Outside of environment buffer zones. Don’t think this had an impact on MEI’s financials but still a permitting risk you would like to avoid IMO
3. refining JV to get 100% playability, whereas MEI leave 30% on the table with just selling MREC (70% playability). The downside to refining is more CAPEX so it isn’t exactly a free kick but I hope this is overall a benefit to the financials.

Hopefully VMM are on the blower to Hatch and devising ways to get CAPEX down, because $400m USD for a $700m USD NPV8 at DOUBLE SPOT PRICES which MEI have just flopped out just does not cut it IMO.

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It's crazy to.think we are 1/4 of MEI and still getting dropped like its fully valued. What has the market come to

VMM Price at posting: $1.06 Sentiment: Hold Disclosure: Held
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(20min delay)
Last 47.0¢		Change -0.005(1.05%)		Mkt cap ! $33.79M

Open	High	Low	Value	Volume
48.0¢	48.0¢	47.0¢	$82.82K	173.0K

Buyers (Bids)

No.	Vol.	Price($)
1	9578	47.0¢

Sellers (Offers)

Price($)	Vol.	No.
48.0¢	11576	2

View Market Depth

No.	Vol.	Price($)
1	9578	0.470
1	10000	0.465
3	4019	0.460
2	15250	0.455
3	39115	0.450

Price($)	Vol.	No.
0.480	11576	2
0.570	3000	1
0.595	8337	1
0.600	68893	3
0.650	20408	1

Last trade - 15.54pm 13/11/2024 (20 minute delay)

VMM (ASX) Chart