PINL:VITFF - Post by User
Post by
4funon Feb 03, 2010 4:42pm
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Post# 16749412
There is no manipulation
There is no manipulationThe company has more good projects than most companies could dream in a lifetime. It takes money to drill and develop these properties. The shares were sold mostly to institutional investors using a special warrant. This allows the company to use the money immediately while filling a prospectus. Once the prospectus has been approved the warrants are exchanged for shares which are immediately tradable. Therefore the shares are immediately available to trade. What did you see? Not selling but buying. These buyers know this is a good investment and are increasing there position.
This is no fly by night junior. It is run by seasoned professionals.
Everyone can see that the Eagle project is a winner and growing. Of coarse they need to update the feasability study and it takes money and time. Since they have found more gold the deposit can be expanded but must be drilled to prove up the deoposit. A full feasablity costs money.
So far there are no 43-101 gold resources assigned to the Cove project. Once they can prove there at least 500,000 ozs Newmont must make a decision within 90 days to back in and spend about 21 million or sell it to VIT for $1.5 million plus a royalty. If Newmount backs in we know they believe the deposit is a lot bigger than 500,000 ozs or they wouldn't be bothered to spend $21 million for 51%. VIT will own 100% or be carried for 49% on a much bigger project. Either way VIT will be a winner.
We have all waited a long time for both these reports.