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27/08/14

11:51

Post #: 13879654
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Originally posted by Remy1 ↑

Plugger, good points. Ultimately VTM's results from this programme and future work can be measured against BCI and more relevantly Brockman.
If VTM ends up with a resource of 50 % - 75% of Brockmans holding with similar grade (and I'm expecting they will) then that's a good measuring stick though there are lots of other factors too.
A peer comparison to BCI is useful and given BCI's relationship with FMG, I would have thought VTM would have to be on BCI's radar. VTM's project ground is closing to rail lines than other production sites so V1 costs are likely to be attractive. Remember, BCI's actual resource totals from its projects are not that large. Though grades are good.
I've done a peer comparison review on the optics and VTM has significant blue sky and I'm a little surprised people haven't seen this yet. Last time I looked, Brockman had a market cap of $400m. I think VTM's sitting around $10m?

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After todays announcement it looks like VTM will be a good target for takeover, good positioning and some solid results today. Could be one to watch with such a small MC compared to its neighbours and a possible 'cheap acquisition for them'. 60% FE plus is economic to mine considering their local infrastructure up there in Newman.

ESH Price at posting: 7.0¢ Sentiment: Buy Disclosure: Unspecified
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