GREY:VMSTF - Post by User
Post by
axegirl1on Jan 25, 2015 9:53am
197 Views
Post# 23360639
Memory Lane.....
Memory Lane.....Respectively, Locogringo Vms Ventures has been very, very good to me. I was a shareholder before the 2007 discovery. Here's a walk down memory lane for some of us..
The Reed Copper deposit was discovered by VMS Ventures in 2007. In October of that year the company announced an intercept of 43 meters assaying 4.38 per cent copper (@ $3.19 lb Cu that’s $308.03 rock just in the Cu) and within it a higher grade section of 10.50 meters in length assaying 11.19 per cent copper per tonne – $786.96 per tonne.
This news attracted worldwide attention because of its impressive copper grade (more than twice the average for even this rich belt), resulting in VMS’s share price increasing by over 1000 per cent. Over two years, VMS Ventures traded two billion shares and reached a peak of $1.70 per share. VMS Ventures also raised $20 million, led by Toronto-based Griffiths McBurney and Partners, which helped finance the drilling of the deposit and has resulted in VMS only conducting two financings since 2007. Having a financing lead by GMP and making a discovery in such as historic belt certainly enhanced VMS Ventures’ reputation as an explorer and as a venture investment.
Read more at https://www.stockhouse.com/companies/bullboard/v.vms/vms-ventures-inc#Dk0HV0Rjz8uOJose.99