I dont think sophs could of sold today as the shares have not arrived in accounts. Today's action is possibly just retail impatience and misreading the announcement without seeing the bigger picture. trying to draw down with FT and discovering the funds not there requires plan B. Plan c also exists and plan A sounds like it needs time for funds to be available. The big picture is VEC have secured the mine and can get to work. Its provided a line in the sand of uncertainty and 500k to 850k may well be the costs of Magna and FT fees if it was to continue on with its signed agreement. That's really chicken feed when you understand the potential here of at least a $300 Mil asset which is quite advanced and has about 70% of the mine's needs on site to move into production. There will be resource upgrades and this will be quite possibly a big player in a few years. So I am discounting the concern of the short term finance that was difficult as it turned out. But we didn't own it then, now we do have significant ownership and control of it. So, im feeling that the potential is for the sp to strengthen here as some have been in far longer and are placing issues in a box with their own view which i may not agree with. There will b stronger buyers coming in as the deal progresses a little and i'd expect a few surprises on the resource details to be announced. I do expect a busy next few weeks with announcements now that things can come out.
VEC Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
