coffin bros takeVMS Ventures (VMS-V; $0.32) has become
stuck on precise interests it holds in its Reed
Lake copper enriched deposit in Manitoba.
Without question a portion of the deposit is
within JV ground farmed in from HudBay
Mining (HBM-T), but how much is not clear.
HudBay’s plans to shut down its copper
smelter in near by Flin Flon may not be
helping the cause, but at a practical level
that operation will continue to generate
copper concentrates for third party smelting
for as long as it has deposits in its district
that are profitable. Just when it gets to Reed
Lake is the question.
VMS recently announced farm out of one of
the rare earth projects on which it was
originally formed, for which it will receive
300,000 Rare Element (RES-V; $3.48)
shares over 18 months plus a 3% NSR. It is
moving forward on testing of other base
metal targets near Reed Lake. This is the
best chance to get value short term but it will
take a new discovery to do it. It is a deposit
rich environment, but this is a wait and see
situation again.
https://www.vmsventures.com/