I can't answer the first paragraph, I don't think...

I can't answer the first paragraph, I don't think anyone on here can however i will say this .....

The approvals have de-risked mulga rock for sure but i don't think that's JB/Managements reason for pushing onto VMY now. As your fully aware, the uranium market is moving rapidly and has been since the Covid lows back in march of 2020, i know because i first got DYL shares around then. The big factor for me is SPROTT entering the market which funnily enough happened in August i believe ( this changed everything and fast forwarded the sector into the bull market) . That alone drove the equities up to the point we're they were no longer cheap, atleast of them anyway.

if i was management i would rather pay now then over pay for the company later and dilute shareholders, this even applies to the merger although the difference being shareholders of both companies would get more dilution further down the track as DYL would have to raise more equity hence more shares on issue for all holders after the companies combine. A positive for VMY in terms of premium but hurts them just the same when it comes down to developing mulga rock, that would mean less cash to get mulga up and running. i would rather saver our Market cap share issue power to combat issues with development, construction and all other things involved ( which is almost certain in the uranium sector ).

i personally thought JB would retire after Paladin but he hasn't, No one knows if he will be at DYL to see another mine build.......however i personally don't believe in the slightest that he would walk away from the SECTOR (uranium). JB doesn't want to see the sector rise and fall like it did in the 2002-2009 period. He wants the sector to be stable so that the spot remains at a price where the producers can produce pounds profitably, he wants a Zero carbon footprint, he wants the nuclear power industry to enter the next age.

i can guarantee you that JB isn't here to make a profit, ask yourself how many management teams out of the 65-70 companies currently listed globally want to see change in the nuclear power industry and aren't here for profit/taking advantage of the current bull market that is starting. If john leaves, he leaves behind the team that built paladin with him and even then He will still at his old age remain an executive or mentor to company IMO.

They do have another projects, Tumas 3 has extremely similar project metrics to Mulga Rock. Overall Tumas 3 will be online way quicker then Mulga Rock as Mulga Rock is western australia's first uranium mine and that comes with many hidden difficulties, further permitting will be needed! and it will be a logistical issue transporting uranium for the first time
on WA roads.

Tumas 3 trend line, geology wise is only 25% explored. which means a massive resource upside potential for Tumas and DYL not to mention all the other tenements they hold in that area.

The sector was still in a depressed state back in 2019, a lot of companies raise excessive capital during the depressed years of this uranium cycle. DYL could of gotten VMY at a much cheaper price in 2019 but raising capital in a market/sector like this one when it's in a depressed state is risky.

Look and see how many companies have blown their share registry out of proportion by raising unnecessary capital in a depressed market, so guess what! Vimy was one of those companies! with now more than a billion shares on issue.

DYL only had 290million share on issue before the start of the bull market cycle, i can't remember the exact number but during that time DYL manage to grow the resources by 65% at Tumas 3 with very little capital spent in the process( all thanks to DYL experience in previous markets which other companies don't have) . They raised recently for M&A activities which is what we are discussing now.

mike is great, he is very knowledgeable when it comes to the uranium sector, but even he has never built a mine. building a mine is hard, getting a contract and setting up a secure supply is harder. He hasn't done any of this, him leaving shows you his confidence in this sector and that's before DYL came to the table.


DYL has far more to offer in this deal IMO, history shows this. DYL has the track record and experience. They are the only management team to achieve results in the past two decades.

i base my decision around the possibility of outcome, based on experience and history. DYL knows what it's like to go to the moon. VMY still haven't even got their ticket......