Good question Ultra and the answer speaks volumes for VMS...

Good question Ultra and the answer speaks volumes for VMS management. Your "very massive sulphides..." are still waiting for an explorer with deep enough pockets to poke perhaps 50 or more holes through the sediments covering Churchill Dam in the Gawler craton of SA. VMS still holds the ground but with only three holes into the anomaly their chances of hitting even a whale sized needle were always going to be pretty slim when the haystack was over 100sq km in size and blanketed by several hundred metres of sedimentary rock.

The smart move was to spend money where significant mineralization was already known. They could have drilled another five holes into Churchill dam and then shut up shop if they didn't get lucky. Mining exploration is risky at the best of times but the smart operators spread the risk with a number of projects. Tin and magnetite in quantity were known to exist at Mt Lindsay and prices for both these commodities are through the roof. Moving operations to Tassie to an area with a history of successful mining for both magnetite and tin as well as excellent infrastructure would have been a no brainer imo.

The whale sized massive sulfide needle in the buried monster volcanic haystack at Churchill dam isn't going away. I expect VMS could do a JV there with any number of cashed up miners but why would they want to? They're busy JORCing up another monster at Mt Lindsay and they are already well cashed up.

There you go Caldazar another post with no naughty words.