RE:RE:RE:RE:RE:RE:If your not sure
Sure theres barite everywhere ... thats a decent intercept... for an oil filed garde barite. Barite is a tracer mineral.. where theres a gold mine there's very often is a Barite mine ... look at all the depleted barite mines in Nevada on Googe earth most of them are on strike with the gold deposits. But that doesnt mean there economic? Otherwise Canada & the US wouldnt be a net importer of barite for oil field and high grade applaications. Thast what I understand from the VM material I have read.
But know this straight up .... I (still) own this stock and Its not an oilfield deal, where VOLUME is a must because it s priced quite keep !! Thats why its all coming in from India and China now - they have the volume... we dont. .
Yes there are barite projects in the US & Mex... Nothing gets bought out of Mexico anymore for obvious reasons... But again its all 4.1 sg oilfield grade. Look at Haliburton, Slchumberger,and Hughes these companies made their names on using there barite as a loss leader, while making their money on all the rest of chemical - because they owned all the big old barite deposits in Nevada - they could out bid anyone on an mud job/contracy and they did and they flourished! But Today ? The barite is deleted and they (too) now import barite from Chaina and India. And Im taklking low grade 4.1 sg mud mix barite not high grade Industrial... Even so. Highh grade barite is imported! Thats why I still own VM - they own a high grade product in a scarce (barite) market... I they decided to do volume and produce for the neighboring oilfield they'd likely cleanu up. But thats not their market TallBoy!!
There's even a decent looking one (Barite deposit) with some defined resource work on it in Nova Scotia (try to find that in Mexico??) but again, it API 4.2 sg for the platform deals - oil field.
These are not industrial high grade barite projects. Unlike VM's rock, these intercepts are all are oilfield 4.1 sg API (if there lucky) But this guy here whom Im replying to with the BC Gov links is right about Volume ... yes for a successfull oil field barite deal you NEED VOLUME... because all the costs are in the logistics...i.e. very skinny margins at $320 /tonne (Blackfalls, AB retail price). Yes its easy enough develop and produce. Not disputing that.Its just a crush and a grind and into bags and out to narket .... if there was a Market for oil field barite!
However, for markets like the Barium Contrast or Pharma Products you need GRADE NOT VOLUME!!!
Just finished the 43-101 last night. Voyageur's deposit meets the criteria for this market according to their recent 43-101 ... And it appears they only need 2000 tonnes per year according to there Finance guy.
Im not selling this one yet. Every dog has its day ... I'd let it develop and pick away at it. According the stuff Im reading on the pharma market, their barite, unlike oilfield barite, could be very very valuable. With only 46 and change outstanding and nothing really overhanging through $0.20, id say the money is on owning it here. Its cheap too.
No one else appears to be at production stage for high grade barite in Canada and the US... Its all imported from China (high grade Ba S04) and from India (low grade 4.1 sg) for low grade oifield.
Ive been paitient too so I under stand frustration, but still thats why I push back on these two characters here ... Its obviuos that there just trying to confuse, they dont read, they just hate VM, which is ok. Its there $$. Perhaps they dislike ceo John Rucci... There's some of that in every deal ... but I made money on his Sienna gold and Grand Tierra before that at Yorkton so ... I geuss Im biase.
So you & tall boy its not a high volume deal thats not the market there going after ... Its not an oil field volume retail deal... And thankfully its not - you can lierally give barite away today for oilfileld.
I know, its not done anything for the vm market yet this new pharma thing - I just re read the last announcemen heere. Finished the 43 101 last night. I bought the orig $10 IPO units in 2017 through Leede and a their flow through lastt time through my Canaccord account.
Appears there doing another small round here at $0.075 (units). Anyway, this direction into the Pharma products could change things here.... their new 43-101 is worth reading ...a very positive step. There not making waves yet but there making progress into a high profit market (unlike oilfield barite market). With a full feasability study it appears they can be producing it in 2019. But the Feasability will be expensive (more than $500K I'd expect) and mine construction I'd expect $10 miilion (Canadian ).
But with the full FS in hand the mine construction amount is easily bank able via conventional debt - they have to konow this, thats why IMO there doing these small non dilute equity rounds inching it fwd. I think this is a high probality at a nice commercial business. I'd buy that debt if it was convertable into stock at an attractive price. They need a partner though, a pharma partner... Watching.