VRE 0.00% 2.0¢ view resources ltd

buying opportunity, page-7

  1. 240 Posts.
    Tiger Ten
    I have no quarrel with your post,maybe I just don't put
    so much to the future potential or the project.
    According to Warwick Grigors report of 18.8.03.(and how much I gathered from other sources) in Zone 29
    he calculates net profit (after capital and operating costs-2.4kt Ni at price A$5.85/lb) of A$6.4m.
    Carnilya Hill,also upgraded in resource,is roughly twice
    as big with similar grades (and roughly 25% oxide ore),so lets assume net profit there
    A$12.8m,totalling A$19.2m,divide by 750m shares comes to 2.5c/sh over XY number of years,not a great deal I must say.
    I must stress again these figures are from the back of an envelope,using mainly Warwicks figures.
    WMC have spawned many small projects and many ex-
    employees are running them in their own right.
    All above doesn't include other prospectivity which at this stage is just that,prospectivity.
    I accept Derek Lenartowitz & Co are capable,experienced and know their ground,nevertheless
    I feel stock is overpriced on current figures.
    I am not interested in VRE at this stage and have no inclination to spend more time chasing the fine print.

    I also read your previous posts with great interest.

    Regards

    Nous
 
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