Bottom Is In, page-91

WAF a 2Moz target compared to VEC 3.2Moz JORC and 25Moz target. Fair to say both will be funded to production. Economics of scale would say the bigger resource at this early stage will be favourable right? There’s another comparison. VEC also has licensing and $70M capital in equipment on site, quite a head start, maybe it’s only worth $40-50M now.

By fully funded you mean massive debt $200m at 7.75%, long time before anyone sees divvies, probably 2025. So where’s the shareholder value? That’s what would interest me. Another comparison right there. Pretty handy having $70M of gear already on site to keep debt to a minimum wouldn’t you say?

$43.17m raise at 25c, plenty of dilution to existing loyal shareholders as well as a hit to the long sinking share price. Little bit unfair I reckon while these instos load up at 25c and now a bucket load of shares to unload. How long will that take? Can’t see the SP over 30-35c for a year if the instos dump so many shares.

We all want to make money and the more information available to consider the better I reckon. I’ve always considered peer comparisons good information. It all looks different from the outside looking in.

All IMO DYOR