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- 17 August 2006
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Interest in this little Spec seems to be returning with some handy orders going through the market recently. Still needs to break old resistance at 1.5 but creeping up on it slowly.
Low risk Spec play in my view. Holding.
Current market cap of $23 million.
Don't sweat it, I have a process of pre-approval of a stock by FA regardless of whether I buy or not based on TA.Goddam Rock .... Now I am under real pressure
and deciphering noise and signal and claptrap comes easy with reading your posts.
There is an avalanche of shares waiting in the wings. From the original Cheetah acquisition Vital agreed to acquire 100% of the issued capital of Cheetah for the consideration outlined and is comprised of the following:
- Issue of 400,000,000 fully paid ordinary shares on completion;
- Issue performance shares comprised of the following:
(i) 400,000,000 Tranche 1 Performance Shares which will convert into Ordinary Shares in the Company on entering into binding offtake for a minimum of 1,000 kgs of contained REO in respect of the Thor Lake Project or Wigu Hill Project within 2 years of the Acquisition completion date; and
(ii) 400,000,000 Tranche 2 Performance Shares which will convert into Ordinary Shares in the Company on commencement of mining operations at the Thor Lake Project or Wigu Hill Project.
Ordinary fully paid shares (VML) at the time 1,742,611,288 and options in the near future included (more in 2025 + incentive shares):
2.0 cent options expiring 30 April 2021 ... 50,000,000
2.3 cent options expiring 30 April 2021 ... 27,000,000
1.0 cent options expiring 17 Nov 2021 .... 25,000,000
Some options have converted and at end Aug 2020 VML fully paid ordinary shares total 2,155,111,289
As well as the Wigu project in Tanzania, primary focus is on Thor Lake Rare Earth Project (Canada) (acquired 100%, surface to 150m above sea level rights)
- Mining leases, environmental and water approvals granted
- Environmental permit and water licence in progress
- NI 43-101 defined Indicated and Inferred Resource
- The Nechalacho Property, of which the Thor Lake Project is a part, has been the subject of over $120M spent by Avalon Advanced Materials , the previous owners, on drilling, permitting and project development at Nechalacho, & which includes a 40-person camp and airstrip.
There is an avalanche of shares waiting in the wings. From the original Cheetah acquisition Vital agreed to acquire 100% of the issued capital of Cheetah for the consideration outlined and is comprised of the following:
True; it wouldn't look half-bad if there wasn't another ~1.3 billion shares flooding in when there is already ~2.1 billion shares on issue:
I believe August follows July. VML fully paid ordinary shares total 2,155,111,289 .... It's all there in the 2A of 24 AugFrom the original Cheetah acquisition:
- Issue of 400,000,000 fully paid ordinary shares on completion;
(i) 400,000,000 Tranche 1 Performance Shares
(ii) 400,000,000 Tranche 2 Performance Shares
Ordinary fully paid shares (VML) at the time 1,742,611,288 and options in the near future included (more in 2025 + incentive shares):
Some options have converted and at end Aug 2020 VML fully paid ordinary shares total 2,155,111,289
Vital aims to be the largest independent supplier of clean mixed rare earth feedstock outside China.
I like the fact, as you point out, it will be a cheap outcome to get the 1,000 Tonne , as the early work is done, but who is going to process it?
Lol ... You guys worry too much about SOI ... Do I look worried with my Hi-ace full of Shares
Dare I draw the long bow and mention that BHP has over 2.5 billion SOI ...... VML will be fine, trust me
G-pick... Geologist's Tool of trade. Rock Doctor 101. That and Arthur Holmes "Principles of Physical Geology" were mandatory purchases in Geol 1 under Prof S W CareyLol .... Whatever a G-pick is(Gold- Goannas-Precious Gems? lol)
Cheers D-F
Currently VML are in a pivotal position ..... Management are expected to announce some Offtake arrangements in the near future. (And hopefully some SP impetus off the back of that)
I assume given they will be producing a "first stage" product, that they will be able to sell that to basically anyone with a processing plant, so their likely customers will be whoever offers them the best deal.
Worth bearing in mind that the majority of Rare Earths projects do not have the luxury of being able to produce that same "first stage" product as VML will due to the nature of their deposits.
Having the Lynas lads on board (Cheetah) means that they have cherry picked the most appropriate deposits to make the proposed production a reality.
Anyone reading my enthusiasm needs to also bear in mind i have been accumulating VML for a fair while so my buy in price is pretty good. Anyone considering buying in from this point in time needs to apply appropriate trading filters lest he or she be belted unceremoniously to the ends of the earth ... or to Leichardt, whichever is closerApologies to anyone living in Leichardt ... I used to work there and its not so bad lol.
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