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"VMS"" Success is not limited to "Riley", page-142

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Absa Fron12

5,767 Posts.

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24/09/21

11:08

Post #: 56320087
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Originally posted by Delia22: ↑

Mignani

I presume that the section of the CHN AR that you are referring to is (on Page 24):
"South West Nickel-Copper-PGE Project, WA (70-100%)
During the year, Chalice executed an earn-in agreement with Venture Minerals (“Venture”, ASX: VMS), whereby Chalice may earn up to a 70% interest in the South-West Nickel-Copper Project by spending $3.7 million on exploration over 4 years (with a minimum commitment of $300,000).
The South West Nickel Project includes a ‘Julimar look-alike’ Ni-Cu-PGE target, a ~20km long interpreted mafic-ultramafic complex with a strong magnetic signature and massive sulphide occurrence (the Thor Target).
A MLEM survey commenced over selected airborne EM targets associated with strong and discrete magnetic anomalies interpreted as potential ultramafic-mafic intrusions. Work to date has identified up to six low to moderate conductance anomalies (100-1500S).
Currently defined EM anomalies are planned to be followed up with infill MLEM and soil geochemistry in Q3 CY2021 to define potential drill-ready targets."

I am not sure how CHN can state " (70-100%)". I don't know of any basis for CHN having the opportunity of gaining 100% of that project. Does anyone?

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Easy way to get % is to buy VMS outright.

Offer 10-15c and plenty would sell out.

They would also get a ready to go Tim mine thrown in

VMS Price at posting: 5.7¢ Sentiment: Hold Disclosure: Held
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