My best guess on the resource ann is sometime this week,...

My best guess on the resource ann is sometime this week, hopefully by Wednesday. This timeline will give a few days trading before the oppies cease trading on June 23.

I have already posted a range for the No 2 Zone resource of between 10 and 50Mt. I don't have the figures in front of me right now but as I recall my most recent calculation for this resource is 29Mt. Have a look through my recent posts if you want to check this number.

The resource size is really a length of string question because the company has actually sampled three magnetite zones at this time. The no 2 zone has been quite comprehensively tested and they would have enough data to publish an indicated resource for this zone. They have enough data to publish an inferred resource for the Main Zone and possibly for Stanley river as well. In total we are probably looking at close to 100Mt based on incomplete testing of 15% of the global Mt Lindsay mineralisation.

The company is quite conservative with our money and with the operation in general. I'm expecting them to publish the resource for the No 2 Zone as an inferred resource in the first instance and upgrade it to indicated and measured as more data comes to hand. If this is all they do, I estimate the price will head past my target of 50c and possibly as high as 85c depending on the magnitude of the resource.

If the company includes data from the other two tested zones, and gives us an indicated resource of around 100Mt, the price could go towards $1.00 The sell depth has almost gone in the past when the sp has spiked but I expect there would be plenty of sellers taking profits well below $1.00

If we get a trifecta of...

firstly: a significant indicated resource for No 2 Zone,

secondly: a combined indicated + inferred resource of around 100Mt and,

thirdly: the company revises the conceptual target up to 730Mt or better.

With this conjunction I imagine the sp could go stratospheric. $2.00 is not out of the question. Imo VMS is worth at least that much given the quality of the team, the preexisting infrastructure and the nature of the resource (low phosphorus magnetite + free carried tin + tungsten + minor copper and gold)