must give credit to the management at VRE they took the chance...

must give credit to the management at VRE they took the chance to sell off their Carnilya Hill Nickel assets to MCR to allow themselves to retire debt and remove any hedging.

With a rampaging gold price expected to rise above $1000 usd an oz in the near term due to further US rate cuts and a weakening US dollar, the fact VRE is unhedged and reaching target production of 120,000 oz's per annum is a major bonus for the company.

With the major capital development works now out of the way, production rising, costs falling, expect to see VRE start to bank some serious profits going forward.

going forward the company will have the luxury of a healthy cash flow to bankroll a large exploration program to start to shore up plenty of extra oz's to feed the space capacity at Bronzewing.

having been one of the companies that was certainly punished during the recent sell off, expect to see VRE start to gain momentum and should soon start to recover most of the recent shareprice losses.

with not much resistance below the 20c mark, would expect to see the shares have a crack at regaining 20c today.