In my opinion, it’s about time we get some actual discussion happening in regards to VIC’s new tenements in NSW and WA. I’m surprised no one is posting research notes or investigations on existing bore/assay drilling that have occurred in the past on these sites. Let’s move away from the pip/day trader mentality and begin to really understand why Everblu has provided this particular golden opportunity to VIC shell holders
What is new in the announcement today?
1. Confirmation of hiring of geology consultants
2. Confirmation due diligence is being sped up
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3. Confirmation of change of focus for management
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What conclusions you can make based of today’s announcement?
1. Confirmation that Malamute is approximately 19% larger than CLQ and AUZ combined and is approximately 72% larger than PGM.
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2. All other sites that don’t align to battery mineral focus most likely will be wrapped up and sold off for cash over the next 24 months. (Maybe they’ll keep Copper Gosan as it aligns to battery minerals)
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What is immediately next?
- Due diligence finalised (imminent)
- Allocation of consideration/acquisition shares
- High level scoping on NSW tenements
Common criticisms on HC about VIC at its current stage debunked:
- VIC doesn’t have enough cash!!
VIC has enough cash to provide high level scoping and complete 1st round of drilling on NSW tenements. Why would they short fund themselves when they literally just completed placement at a great price for investors?
- VIC management is bad!!
They will be more than capable of delivering results up till official Project Financing stage (nothing hard about allocating $$ to outsource drilling and experts to analyse and report findings/PFS/BFS)
Where are we at in the development life-cycle?
Taken from one of the COB announcements, this is the potential long game milestones for VIC if/when we officially acquire the sites (bear in mind COB started further into the life-cycle than VIC tenements)
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What announcements are upcoming on the medium-long term for malamute?
- High levels samples and assessments
- Initial drillings
- Maiden Resource definition (for malamute) coupled with a CR
- Scoping Study
- Second drilling coupled with Resource Upgrade and more solidification of Geo Data
- PFS
- DFS
- Funding
- Mine(s) development
- Mining licenses and other community/government approvals
That’s just for malamute; imagine if WA Galah Well with 7000+ppm assay results become approved and realistically possible to mine…
Some comparisons we can make to AUZ:
Staff/Admin costs per Quarter:
- AUZ: $600k, $400k, $350k
- VIC: $550k, $250k, $300k
Market Cap:
- AUZ: approx. $40mill @ 1.4c in the early days
- VIC: approx.. $30mill @ 1.5c right now
Observations:
- The market didn’t value AUZ’s Sconi project, it values heavily though their Flemington project as evident by Flemington’s news flow impacts on the Market valuation of AUZ.
- AUZ took the long cruisy road in developing their Flemington site. Acquired in Oct 2016, scoping results took 5 ½ months, maiden resource took 12 months. VIC is showing signs that management want to fast track all stages of development to catch up to peers in the vicinity.
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(20min delay)