VKA

0.00%

0.8¢ viking mines limited

VKA potential, page-36

First 36 Last

Share
Profile

Follow
vespasian03

7,890 Posts.

251

12/03/21

23:11

Post #: 51736804
Share

Originally posted by ciroc: ↑

Spectrum Metals (SPX) Originally acquired the First Hit project 4th of October 2018 at the time Spectrum CEO Paul Adam’s said “The acquisition of the First Hit mine near Menzies is a great opportunity for Spectrum to get into an advanced stage project with significant existing infrastructure with very easy access. The existing drilling and relatively easy access to the previously mined zones means that this is a development opportunity with immediate drill targets. Numerous opportunities to treat ore in the district, opening the prospect for a low capital cost start up, combined with high grade gold mineralization.’

Then on the 16th of October 2018 spectrum acquired the Penny West project and in early 2019 Spectrum received some results from an auger geochemistry program which identified 5 high priority drilling targets, so with the companies limited resources Spectrum put all their effort into drilling Penny West and First Hit was put on the back burner.

On the 10th of February 2020 Ramelius resources (RMS) made a takeover for spectrum after the results at Penny West proved to have 355,000 oz at 13.8 g/t. The deal included 1 share of RMS for every 10 owned in SPX and also 1.7c per SPX share owned, this valued Spectrum at 208 million.

Also to note if you timed it well.. RMS shares roughly doubled from the time of the takeover announcement to September that year with the rising gold price, but timing was important as it started to drop in price after that.

One of the main reasons RMS took SPX over was because penny west could utilize RMS’s nearby mount magnet processing facility. Now the fact that the First Hit project is 50km’s from Ora Banda Mining’s (OBM) mill and the closest mine being only 8 km’s from the First Hit project.

These reasons is why I’ve heard many people say Viking will be the next Spectrum once we prove up enough high grade gold we could be quickly taken over, It pretty much only took Spectrum 1 year to go from first drilling at Penny West to take over.

Expand

Liked your post but do get concerned when remarks such as this one are made
"These reasons is why I’ve heard many people say Viking will be the next Spectrum "
Readers have no idea who those "many people" are to whom are referring....
But I agree great potential here .Julian Woodcock's judgement is what I like...and also the vendor of the lease (Vanguard) buying so strongly!

VKA Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

WGX

Westgold sets its sights on top five producer status through merger with Karora

DVP

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Is oil undervalued?

GRX

GreenX picks up prospective copper project in Germany

VMS

Venture to sniff out high-grade REE targets at Jupiter project, WA

MGU

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

NXG

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

BOE

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

VMT

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

There are more pages in this discussion • 10 more messages in this thread...

First 36 Last

Add VKA (ASX) to my watchlist

(20min delay)
Last 0.8¢		Change 0.000(0.00%)		Mkt cap ! $8.202M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	183756	0.8¢

Sellers (Offers)

Price($)	Vol.	No.
0.9¢	249000	2

View Market Depth

No.	Vol.	Price($)
1	183756	0.008
9	2349681	0.007
5	2960000	0.006
4	6050416	0.005
3	1700000	0.004

Price($)	Vol.	No.
0.009	249000	2
0.010	1187065	7
0.011	106665	2
0.012	1600000	1
0.013	699004	3

Last trade - 16.12pm 02/08/2024 (20 minute delay)

VKA (ASX) Chart

Day chart unavailable

VKA potential, page-36

Westgold sets its sights on top five producer status through merger with Karora

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Is oil undervalued?

GreenX picks up prospective copper project in Germany

Venture to sniff out high-grade REE targets at Jupiter project, WA

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

VKA potential, page-36

Top Stories

Westgold sets its sights on top five producer status through merger with Karora

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Is oil undervalued?

GreenX picks up prospective copper project in Germany

Venture to sniff out high-grade REE targets at Jupiter project, WA

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News