GREY:VMSTF - Post by User
Post by
lookin4deals4meon Jan 15, 2010 2:02am
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Post# 16682076
really? 3 months(over 2 years) and going where?
really? 3 months(over 2 years) and going where?
VMS makes reference to their discovery hole in 2007 and 2.2 years later; nothing has really changed. Yeah... they drilled a couple of more holes in some different areas to confirm the geology and continuity but this process is slower than pluto's orbit around the sun! Most juniors would have done a ton of step-out holes, defined a large NI 43-101 resource calculation and starting to look at pre-feasibilty within 3 years of a significant discovery hole.
What are they doing? Seriously. There is 2 things that I am wondering about... 1st.. Why option and sell properties.. is it because it takes too much dough and resources to manage multiple projects and they are running out of cash? 2nd.. VMS dragging their butts on their most significant project; why would this be? Is this particular discovery really small and insignificant and VMS has been hoping the last 2.2 years their other drilling areas would produce something more spectactular?
A smart junior would have done a resource calc and pre-feasibility and sold this property on a HUDBAY or some other producer(chinese) and focused on another play.
I would dump this on the next run-up on news.