STTCOMP VMC, FA Long
Vanadium driller in WA (along with a bunch of other tenements and an option over an old refractory gold mine)
Undiluted Market Cap 16.1m @ 18.5c, EV 14.9m.
Option diluted market cap ~26m @ 18.5c, diluted EV $14.1m.
Cash ~1.2m, SOI 87.2m, Listed Options 57m strike 20c expiry Nov 2019
Been ages since I have tipped. VMC first came to my attention during for its lithium tenements during the boom, it completely failed to deliver.
Recently Alan Birchmore has joined the executive team and they seem to be giving their Vanadium JORC some attention. Alan bought 100k on market yesterday at an average of 20c. He also loaned 400k into the company via a con note at 20c (pretty good deal for him with limited downside). They are about to commence on 6000m of drilling on the Vanadium resource. At current prices a punter can get in at the same level as Alan's on market purchases.
STTCOMP VMC, FA Long Vanadium driller in WA (along with a bunch...
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