260% INCREASE IN RESOURCES....
Hello Everyone,
I was expecting a 100% in resources, they actually came in at 260%, which is pretty impressive. The news release also noted that they have other undicovered areas which will only add to the resources. This is a mamoth deposit which is only getting bigger as time moves on.
The spud date of June 2011 is fine with me, they did say 2nd quarter 2011, so June is still in 2nd quarter.
I believe that management wants to get the stock price over the 75 cent level so that warrants can get exercised in July 2011. They gave themselves a little time to do things properly. Hence, so much for good40 dilution argument, it is out the window. Management is conservative and will work the price up to the $ 1 per share level until they have control to force execution of warrants.
Overall it is a very good report. The area is an exploration project so one has to expect that the words used are contingent and prospective until they are confirmed by drilling. This is reason why you get the stock at 42 cents instead of $ 42 dollars.
Be smart, LOAD UP.
PS: I am more convinced now that VST has hit oil and management is waiting for logging report to send LFD soaring. They are smart to capitalize where it counts.
JMHO