GREY:VMSTF - Post by User
Post by
U3082014on Apr 20, 2011 7:15pm
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Post# 18465097
Sails, Cowan , and Reed.
Sails, Cowan , and Reed.At 2.5 Mt Reed Lake valuation is easily $1/share for VMS.
add to that.
Cowan River.
9% copper is obviously a stringer(likely on the footwall side of a ore body)? more drilling is needed but definitely something afoot....
Sails Lake.
1.2 g/t is nothing to sneeze at. I believe that is the average grade of 777's gold.
World Wide..... the average grade of gold mined .....is around 1.5-1.8 g/t...
So on exploration value of their 100% owned properties and 30% of Reed you have to at least give them credit for $1 for Reed and .50 cents for Sails, and Cowan.
$1.50 total.
Trouble is....
We are facing another market pullback/correction in late Q2 or Q3.
I would say this Oct./Nov it will be blue skies for VMS....
I recently exited this at .76 cents but I am looking to get back in.
HBM could release some down plunge stepout holes and that would dramatically help but I would personally prefer they wait....so I could put together some extra dow to buy back in....
VMS and it's shareholders will have to weather another market shake-up this summer but after that hopefully things settle down in Q4 and it will be a nice steady run-up to a 1400+ TSX.
Patience.....Canada will continue to enjoy an resource driven healthy economy......
P.S
Rumors are abound that HBM&S is busy lining up generators and equipment quotes as part of their scoping study for Reed.....I expect to see alot of site prep this Fall&Winter and Ramp is rumored to be starting in the Spring. Production for late 2012.....