CopperKing.... interesting year end for VUL.CopperKing, it has certainly been an interesting year for VUL. If one thing I can say, the web VUL has weaved it very complex, but I am confident if one follows the money, VUL will provide an excellent return.
What first attracted me to VUL was when Eric Sprott put in $2M in a $4M raise at $0.20 in June putting about $13 M in the bank, so I thought this has to be a good place to park some money for the next year, so I bought. Then something interesting happened to VUL on the way to the grocery store, the shares of SALT began a meteroic rise closing at $1.67 at the end of the year, on very high volume of 1 M shares.
I don't think many thought SALT would run this high so quickly, in fact, there were a lot of people that didn't, as at December 15, 2021 there was a record 2,066,043 shares short. Not sure where this stands now until the new numbers are posted next week but I suspect it will be interesting and telling. I always hope for a bit of a short squeeze in these situations.
Why did VUL raise so much money if they didn't have a plan to use it. This makes me believe the best is yet to come.
Two significant things we do know,
1) VUL has excellent properties with assays pending from Cholchester, also Sassy and Fjordland shares, and excellent properties such as Red Cross and Burnt Berry.
and 2) they own 28 M shares of SALT which at today's value is worth about $50 M in cash if SALT was taken out at its current price.
But I am really asking myself, what is the real value at which SALT might be acquired or putting it another way, how much more money could VAL potentially receive if SALT is acquired. I recommend everyone go to SALT's website and look at their corporate presentation, that provides a window into how much the resource is worth. Certainly compelling information in that presentation in terms of comparables and resource size.
As to why Patrick Larcey sold 100,000 shares at $0.31 on December 23 and filed it on December 31, I think it is pretty insignificant given overall what is happening at VUL and SALT. My guess is since it was the 23rd, it was most likely a tax reason.
I hope 2022 is an excellent year for stocks in general. Keep the BULL running.