Virginia Energy Resources Inc V.VAE

RE: RE: Blizzard uranium mining claims settled

[skipjackmack]

Hey M139...great posts in the past 24hours esp the gazette find...beat the Vancouver Sun. VAE owns 37% of BPU, so your math is about right. I'd prefer to see the a big chunk of the cash distributed to BPU's shareholders in the form of a special dividend so that VAE's own balance sheet is improved. Could be a long wait until BPU decided to apply the cash and with all the associated risks...no, i believe it's time for VAE to consolidate it's resources ready for NAS report findings in early Dec...a company with $4m cash now plus $5-9m from BPU plus other property assets on the balance sheet minus just $3m long-term liabilities...AND WITH A MARKET CAP OF $16m...are you kidding me??...look at level 2 this morning...there's asks stacked from 0.19 all the way through to 0.27...and no doubt more selling into the bid...IMO, the market isn't going to view this BPU win as sufficient to outweigh the headwinds ahead for VAE...too small a company and currently spread a bit too thin...hence needs to consolidate. I'm a conviction long in the 20s...looking forward to the NAS report on coles hill. C'mon VAE, show us how big your muscles really are; start by flexing them please... ;-) sjm