RE: Could it beAgain, I trust that Mark is no fool but selling Maracas doesn't add up to me. They're expecting to double the resource and things look very promising, so a sale of that asset alone at below $1 would be a disappointment to me. Obviously there is risk that the promising results aren't actually that good but from what we've seen now I don't think so.
I kind of think of Maracas as the lynchpin of the company. It will be one of the lowest cost Vanadium mines in the world, it's conveniently located next to the iron capital of the world, and so it's pretty much a steady source of income wherever the economy may go with a lot of upside potential for increased vanadium usage from steel, energy storage, and lithium batteries. Let's face it, we're all here because it is an attractive mine undervalued, loaded with upside, and, once they have the license, financed. The other mines are very attractive but not even priced in to the share price at this point.
Northern Dancer should be a beast but to keep things in perspective we still don't have a completed PFS. Campo Alegre could be huge, too, but we're still in the exploration stage. It doesn't make a lot of sense to me to sell a sure thing with great possibilities that can be financed without dilution and is near-term production in order to have money for mines that are still pre PFS. Unless, of course, the price was very very good. It could be that an offer was made and they are taking it to the shareholders and analyzing it over the weekend to give us direction, though.
Likewise, a JV on ND before the PFS is released is unlikely, too. That said, if they got the report back on the PFS earlier than expected and were already in talks with a partner, then while they're preparing it for release they may have come to an arrangement. In this case, I'm not sure if they'd have to halt until the PFS is polished and ready for release or what?
For those as nervous as I am I probably shouldn't say this last part out loud but it will make good news seem greater when released: maybe they didn't get the LI for some reason and are figuring out how to address whatever deficiency to give an estimate of additional time needed.
I imagine that most of you, like me, are sitting in the red at this price level. Here's hoping for some green! Good luck to all the longs, and for the new guys that posted on the board and just jumped in last week, you don't need any more luck. :)