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VEC T50, page-59

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mattyedw

2,649 Posts.

187

28/03/19

12:09

Post #: 37912659
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Originally posted by cfp ↑

once again, I dont think they are looking for other finance as IMO FT General is still pretty much in the picture, Magna was used as a backup in case of any hiccups, VEC management had the foresight to realise this was always a possibility and put it in place, I could be wrong about FT, maybe another company has come to the party with better terms than FT, I do not think for one minute that Magna will be here after the 90 days, and if it costs us 1 million dollars so be it, up to a 25 million additional ounce upgrade on top of the 4.5 million ounces we already have will smother any costs to Magna, they will be a blimp nothing more, well done VEC management on your hard work and the foresight to understand if FT had a hiccup we could still get the resource secured, its BOOM time

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Magna are not used as back-up, they are used as a last resort, this why the sp has tanked...

Any finance that once was is NO more...

The negotiations for a start would have to begin again because of the destruction of the sp, im afraid the money moving forward will be a destruction of sh wealth and together with making any money with VEC's potential, the potential will just be diluted to nothing.

Magna and alike are here to stay

VEC Price at posting: 1.0¢ Sentiment: None Disclosure: Held
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