Short Term Trading Week Starting: 19 Sept, page-249

PSC's market cap at the time, at 1.5c was $15m - exactly the same as VXR's was at 0.6c.

As you say, PSC is currently at $80m+ and has been higher - let's see how far VXR can go and if it can get back to those lofty highs of $185m...but I'd be happy for that $60m valuation to get hit first.

PSC raised $2.6m at 1.4c after the acquisition and then they raised $20m at 5c a couple of months later - let's see if VXR does the same or if NST buys them out (pie in the sky stuff but not completely out of the question if you look at the past NST announcements/intentions as I posted over on VXR).

In relation to your query (and some others') about the lack of supply/selling; if you think about it:

- Most of the recent raise was given to existing shareholders
- All of those existing holders would have just been averaging down
- They all would have had a much higher average purchase price
- Therefore, none want to sell at these prices

Best example is NST. They originally bought $6.5m worth of shares at 4c per share. Even though they took up all of their rights in the recent raise and applied for truckloads of the shortfall (putting in another $750k in total into VXR), their average price is still 2.5c per share (all $8.7m worth that they put into VXR).

So, along with NST, the VXR Directors (who have plenty of skin in the game) would have some of the lowest average purchase prices (apart from people that have just bought now/recently) and both are unlikely to sell any at all and most other existing holders that are holding are doing so with an average price higher than the current SP.

This is why there is limited supply/selling and the free float is reducing every day and new buyers are having to chase it up!


Then there's all the other positives that VXR has, amongst others:

- Currently undertaking an aggressive drilling campaign for the rest of the year where they've had previous drilling results of:

- 4.75m from 72.4m @ 47.8% Zn, 8.7% Pb, 294g/t Ag, 0.9g/t Au & 69g/t In (SCD009), and

- 3.75m from 107.95m @ 49.2% Zn, 7.1% Pb, 327g/t Ag, 4.1g/t Au, 223g/t In (SCD005)

- VXR receives ~$1.6m net income per annum from its heap leach operation

- Research report from July put a 3c or $60m valuation on VXR

- Spent 6 years and $60m assembling the current copper-zinc asset portfolio

- Recently signed a Lithium MoU for exploration on its grounds by Canadian MacArthur Minerals, with no cost to VXR, only upside

- Zinc flying at the moment and VXR has massive JORC resources

- Great register and backing of the company (top 20 held 76% prior to recent CR)

- Northern Star Resources (NST) are a major holder and have just put in a further $750k of cash into the company via the recent CR

- Directors have plenty of skin in the game and have just put in another $296k of their own cash via the recent CR

- VXR holds one of Australia’s largest undeveloped zinc-copper inventories across its Whim Creek and Sulphur Springs Projects in the Pilbara, with total resources of 320,000t of contained copper and 910,000t of contained zinc.

- Was valued at $185m at its peak.

And the list goes on, and starts here :

http://hotcopper.com.au/threads/ann-start-of-drilling-programme-vxr-ax.2858514/#post-18929616

Anyway, just more ramblings from me.

Cheers,

GB.