Voltalia Ord Shs VLTAF

Putting time in perspective

[eebler]

I've been in/out of VTR many times over the last 2 years and recently re-entered based on the fact the PFS is coming up soon. I think something that might be of interest to those that have not seen it is the following chart. It shows the typical lifecycle of a mining stock as it relates to companies that are developing a mine for the first time. It may seem premature to suggest that the speculation phase for VTR is over, but at over 5m ozs we are not likely to see it double from here. The high-grade discovery might put VTR back into the speculation mode but we'll need to see continuity of grades in bulk before people start to think "blue sky" again for the size of Kiaka. At some point it also reaches the logistical limits of capex/production, so even if they keep adding ozs they won't necessarily change production volumes. I'm not trying to be a naysayer, but I've seen and suffered enough of the up/down of junior miners to finally believe that I understand it. I still get burned as often as not, but VTR looks like it is entering the phase of its lifecycle characterized by studies, permits, funding and construction.