All:
First post on thids forum. Fantastic news that VMS Ventures has chosen Agoracom for its IR. From the outset I wish to state that I hold both NOT and VMS. I'm also relatively new to the junior mining exploration field. But I was impressed by VMS's hole result of Thursday.
Anyway, there is an interesting discussion going on over at the NOT forum from I responded to question that is worth reading if you are a VMS SH. Below is the reverse chronological order of posts from that forum:
Initial question:
I own stock in several junior mining companies and a couple majors also.....and I have to say, I've never seen drill results anything like that hole # 5. Now I do understand that they're going to need to prove up some tonage .....but I was just wondering if anyone knows off hand of any drill results that compare ....I would be interested in some examples....anywhere????
Reponse:
Good morning NOTaholics:
A good question from Sudbury as comparators are always useful.
Check out the PR below and recent assay results from VMS Ventures. They blow away NOT's hole #5 and Voiseys Bay put together. However, the drill results are only for Cu and contain no Ni, Au or diamonds.
D-C.
P.S. Me thinks this stock is set "pop" again next week. Check it out as its definitely worth a look but hold onto your NOT shares of course.
Any feedback would as always be appreciated.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") is pleased to announce assay results (weighted average) from drill hole RD 07-02 on its new discovery on its Reed Lake project, near Snow Lake, Manitoba.
HIGHLIGHTS
HIGH-GRADE COPPER-RICH INTERVALS:
- 2.50 METRES (8.2 FEET) OF 15.30% COPPER within
- 10.50 METRES (34.4 FEET) OF 11.19% COPPER within
- 22.25 METRES (72.9 FEET) OF 7.75% COPPER within
- 43.05 METRES (141.2 FEET) OF 4.38% COPPER
Vice-President of Exploration, Dr. George Gale, states, "Obviously we are encouraged by the copper grades in this drill hole, but I think it is also important to note we have results for gold, silver and zinc that are consistent with the historic and producing VMS mines in the Flin Flon - Snow Lake Belt."
Response to the above:
Firstly, Hudbay Minerals has a 70% back-in agreement for relatively small $$$ leaving VMS with 30%. As measured against NOT's 100% interest, NOT has the edge by a large, large margin.
NOT has nearly 70 m of mineralization vs. VMS 43.05 - Advantage: NOT.
As for ore value per tonne, the Cu-Zn-Au-Ag combined metals credits for VMS came to U.S.$431.70 versus the Ni-Cu-PGM combined credits of a tad under U.S.$2,500. Advantage: NOT (going up against NOT in metal credits analysis have NOT duelling with an unarmed man)
Infrastructure and location: VMS is in a superb locale - the Snow Lake VMS belt in Manitoba has all the power, water, roads, labour etc one could ever hope for. Advantage VMS
Market cap: NOT $350M VMS $41.57M Advantage VMS
Conclusion: RD 07-02 is a great hole but NOT #5 is a stunningly rich spectacular drill hole. VMS did a lousy deal with that back-in agreement and thus will not even hit my radar screen.
Nice try, though.
Folks for those of you that have bothered to read this, a simple question:
"Whadda ya think?"
D-C.
