So my first order of HC business is to advise that I am back as an investor in VIC. And with that I have decided to go in rather ' Large ' so to speak. I did like the analogy to the ANZAC two up , however in this instance I have chosen the ' Tails ' OVER the Heads for obvious reasons.
My FIRST reason is rather basic in that I simply do not like to loose on my trades and given the OA's cannot get any cheaper than .001 , I decided the best course of action was to average my position across both VIC and HDY in the event of booking any potential losses from my HDY holdings. They have plenty of time so it is pretty much a no brainer. There is the other point there is far more leverage in the oppies now and I am not interested in participating in any future CR.
My Second reason would be the mere fact that there is most certainly a ' Pump ' coming Folk's. In support of my view and Buying Action today , I bring your attentions to the following Chronological details followed by the original terms of the Cobalt Prospecting Acquisition.
Rather than all the uniformed chin wagging in regards to some posters suggesting the $200,000 grand was to ' desperately ' just keep VIC floating - I bring your attentions to the actual reasons which are highlighted in the bottom point e ) below. Not surprised at all as these comments were coming from the same people that had VIC never trading again. Best to do the proper research to determine that with the Acquisitions coming almost full circle to a year , that obviously the $200,000 was the minimum to keep the Tenements live for VIC - and not in regards to trading insolvent. They actually had enough to re-list but was prudent to make sure the Tenements were protected.
So in review , we find that on the 20th March they advised of the ' potential ' for Scandium and Cobalt for the NSW tenements and then on 9th April Advised the Cobalt-Scandium mineralization analysis was ' underway '. It wasn't until the 9th of June that it was reported that geochemical assays confirmed positive Co-Ni-Sc readings. In support of my belief the ' Pump ' is in motion is the fact that Malamute ' exhibited only elevated traces for Co, Ni, and Sc ' as per the announcement.
> Malamute – some slight fine tuning, otherwise, the planned drilling grid is minimally different from the preliminary plan (refer ASX Release 9 April 2018)
> Husky – the drilling plan was extended in Husky East, as geochemical assays results from rock-chip samples were up to 70ppm Co, 227ppm Ni and 29ppm Sc which, collectively, are positive indicators for extended mineralisation
Then on :-
14 November 2017
Acquisition of Highly Prospective Cobalt & Scandium Projects
CONSIDERATION In consideration for the Acquisition, at settlement VIC will:
a) issue 357,142,857 fully paid ordinary shares in the capital of VIC, at a deemed issue price of $0.007 per VIC share;
b) issue 142,857,143 performance shares that each convert into one VIC share upon the announcement to ASX by VIC that intersections of a minimum of 600ppm cobalt or 200ppm scandium mineralisation have been achieved from a drilling program on the tenements within three years of settlement;
c) issue 178,571,428 options to acquire VIC shares with an exercise price of $0.02 and expiry date 28 December 2020, being VIC’s quoted option class ASX:VICOA;
d) grant a 2% net smelter return royalty with respect to all minerals produced and sold from the four project areas; and
e) pay $200,000, which will be applied to cover costs incurred establishing and maintaining the four project areas,
Folk's I make not apologies for being an astute trader and seeing the enormous opportunities for my timely buying entry of VICOA's today , and i looked forward to discussing all the positive aspects as we move forward together on these projects. Best of Luck to all holders in the ensuing days ahead.......
