Again, you completely miss the obvious. My goodness.
Let me explain, for all to understand...
VMY shareholders got 47% of DYL in the merger. Today, that is worth $750million!
Before achieving 'substantial commencement', and obtaining the uranium mining permit, VMY was worth around ~$50million.
So, what changed? How did VMY go from $50M --> $750M..?
The answer is, the WA uranium mining permit!
Why is that simple math so hard for you the grasp. It's elementary mate.
What made the buyout possible, was the Permit. We had a much better asset, and better infrastructure setup. The reason Borschoff passed us over, and picked VMY instead of us, is the permit.
Mike Young understood this. He understood the value of obtaining that permit, and the enormous, disastrous, cost of not having it. It was THE golden ticket!
I made a lot of money with VMY.
I lost a lot money with TOE.
The difference is the permit.
Now, we can go on to discuss the reasons WHY, Richard walked away from Mark McGowan's offer of a permit. Which I'm happy to do. And we can agree/disagree on those. But, the impact is undeniable!! That is fact. That is the starting point of any conversation, the baseline.
TOE Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
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