Bottom Is In, page-110

So much lipstick lol that the inside knowledge of no less than the ex-Anglo project director took hold of the project by purchasing it through Firmosa. Why buy it? Why then partner through a JV with VEC to develop the project and the same project director take a senior position on the VEC board and become the No. 1 shareholder!!

By comparison the ex-Anglo project director and quite a few other project guys know what’s in the ground and they are appointed for construction purposes. So far we know the VEC resource is double WAF by comparison and world class grades to boot. Expansion of the VEC resource can be as much or comparable to the famed Kibali gold mine Anglo holds a stake in. A little bit of research will show that Anglo were under pressure to restructure there assets in 2013 and let the developing project go and bunkered down with their existing assets.

Talking about lipstick on a pig by comparison that’s WAF if ever I’ve seen one. A small mine with a short mine life, half the resource of what VEC has. VEC resource potential is around 5-7 times WAF with similar or better grades. Economics a no brainer, mine life and yearly output capacity dwarfs WAF. There’s a direct comparison right there!

So as a shareholder what’s to look forward to on WAF? A potential MC $500M as a start up mine in 2 yrs time with a $200M debt ($15.5M/yr interest only) and the current MC is already at $238M. Doesn’t take much to see zero SP growth, at best 2c over 2 years unless funding gets pulled and kills it. Risk vs reward profile???

The pumpers who keep talking this up may need to apologise in future, probably got a history of trading in and out for pips and WAF is primed for that type of action. Keep your eye on the next pump to 30c so $43M at 25c can get a 20% return. Good luck getting out first.

By comparison, VEC 20% is 2-3 pips away and when refinanced shortly as expected, dumping Magna as someone previously posted. Will clear the path to fast track through to DFS, resource expansion is already funded same as WAF. So compare MC expansion and SP growth over the next few months compared with WAF?

I noticed you complain about dilution over there and these poor guys copped 25% dilution comparing to today’s MC. Lol and you say of possibly investing here! Why? Honest question. Can’t see any share price growth potential. No catalysts. Trader it for pips maybe?