Riley Iron Ore Mine - Progress, Photos and Calculations

Hi all,

Everyone has an agenda on HotCopper (VMS), even myself:

1. I own VMS shares so obviously I will point out the positives of VMS
2. Trolls will be troll and we know who is community troll is and now there appears to be a cluster of trolls
3. Day Traders will talk up a stock when they hold but will subtly talk down a stock when they sell and hoping to rebuy VMS
4. Greenies will subtly make negative comments but some are so obvious
5. People who have sold VMS shares and now have regrets so want to buy back in so they continually talk down on VMS

My objective is not to convince you to hold, buy or sell VMS but let's use the 'reasonable man test' and more of an objective test.

While I look at previous information as a I guide, people need to evolve and decide whether there was a reason for VMS past failings or delaysand was it there fault and more importantly has there been a change to VMS internally or externally.

In the past VMS issues had issues with the Greenies, however VMS succeeded in Court. However, the Iron Ore Price dropped and VMS mothballed the Riley Iron Ore Plant and guess what Iron Ore Price is now today, US$200. More importantly, now the Wet Screening Plant is complete and they are doing the commissioning.

Do I trust Andrew? Hell No, I don't trust anyone on HotCopper nor do I trust Andrew.

However, what is different now is we have photos of the Wet Screening Plant.

VMS are also advertised on SEEK for a Mine Survey or Friday 24/07/2021
Mine Surveyor Job in Devonport & North West - SEEK





Then we have photos from @Rossco777 @Horse44 @railgun @Empire07 (thanks guys)







My high level calculations for the Riley Iron Ore Mine are as follows (DYOR, not financial advice)


When is the Riley Iron Ore Mine commissioning complete and first shipment?

If I knew when the Commissioning to be complete and for first shipment, I'd be a multi millionaire.

However, is Iron Ore a perishable good? No, If there is a delay of 1-2 weeks or 1-2 months, will the Iron Ore disappear? No.

Will VMS miss the Iron Ore high price window? Well no one knows the answer but Iron Ore appears to be a safe US$150 plus for the next 2 years (DYOR) and VMS only needs Iron Ore to be US$90 to make AU$30M.

No one know the requirement for Andrew to consider the Riley Iron Ore Mine commissioning to be complete. Andrew may have a set of criteria such as VMS must have 90% efficiency etc etc and in a set timeframe.

Also Andrew has been quite prominent with social media and in the public domain with Samso Media, ProActive and Roadshows, so do you really think a man under pressure with Riley Iron Ore Mine would attend these voluntary interviews (unlike ASX company requirements which is necessary).

I'll let the trolls and downrampers continue with VMS and management is incompetent posts and on repeat but remember EVERYONE has an agenda. Remember, no-one knows the set criteria for commissioning to be complete.

Do we have photos of iron ore and truck movements?

Like everyone, I have an agenda, however read my posts and see how detailed it is. If you were a reasonable man (unlike trolls, downrampers and day traders), does this post make sense? Does the delay in commissioning make sense, if we don't even know the criteria?