Vane Minerals Share Discussion Threads

[gazza102] 05/6/2013 08:51

Where's all the cash gone????????

[rmart] 05/6/2013 08:29

These are very good results and still u moan. Revenue almost double market cap. What's up with people these days. The cash position will improve drastically now they are not spending in USA . Looks good to me. This year will see even better performance IMO.

[combo83] 05/6/2013 08:08

Idiens going to take the helm. That's good news given his own substantial stake in the company.

Cash position of £0.5m suggests a new drilling programme not in the near term pipeline imho. gla.

[martin c-j] 05/6/2013 08:07

The bad news: Cash balances of £0.53 million as at 31 December 2012 (2011: £2.30 million)

The good news: Minerales VANE is expected to continue to perform strongly, generating significant cash resources for the Group.

I guess it was clear cash was tight, but I didn't think it was this tight. Worst case I thought it might be as low as £1 million. Well it's far worse. They have no choice but to sell the Uranium assets as quick as possible, and dare I say it, possibly even McGhee Peak. DN leaving has to be a cash issue. It's all about preservation of cash and squeezing as much out of Mexico as they can at the same time as not squandering money. Why they bought the Idaho target if cash was this tight, I don't know.

They are still going, but they have to turn the corner soon or it's lights out Irene.

[opaldouglas] 05/6/2013 07:38

Unfortunately very little additional clarity is give to the vast majority of points that really need addressing. Seems like we'll have to wait and see if Vane are up to the task of finding a JV partner for copper etc. No word about "other opportunities" either.

Although results are a great deal better then previous, cash in the bank is rather disappointing. It simply seems to be a case of not enough revenue to support meaningful exploration activities.

[asmodeus] 04/6/2013 20:08

Con fusion?

[icehot2] 04/6/2013 20:02

cold fusion?

[freddie ferret] 03/6/2013 17:23

This Uranium stuff is all rather old hat, it's fusion you want to get into.

[gazza102] 03/6/2013 16:35

Yes i argee it is crazy - But I am use to it now with this share!!!!!!!

[rmart] 03/6/2013 16:23

we need the results out and some direction from the management.

It is less than £2,500 of shares traded and down 12% which is crazy.

Imagine what will happen with a good update and a few mil shares bought.

[gazza102] 03/6/2013 13:44

Dropped again - I wonder if our buyer will come in again?

[freddie ferret] 31/5/2013 16:50

Ferrets are not vermin they are sweet furry little animals.

[martin c-j] 31/5/2013 14:13

rmart - It's hard not to be depressed by what is going on with VML. Their CEO has just left the company and we have not been told why. That for me is alarming enough. But if you look at the interims from just 6 months ago, something clearly has gone wrong since and we have not been told why again.

I have had my rose tinted specs on for 6 or 7 years now, and to be honest, I just don't have a good feeling about what is happening. They lack the funds to do what they want to do. They have no means to raise additional funds. They are just treading water with the revenue from Mexico, and there is no exploration going on.

They need to sell some assets and limit outgoings on licenses for targets sitting vacant doing nothing. They need to pare costs to the bare minimum. They need to get back to exploring 4 copper targets per year. And they need Mexico to generate a minimum of £1 million per year in spare cash after all costs and corporate expenses. Otherwise they don't have a future.

Kris Hefton, Matt Idiens, David Newton, Steve Van Nort, Clark Arnold are all very competent likeable people, but they have to hit a home run soon. The market conditions have been very tough indeed, but at the end of the day they are meant to be a self funded explorer. They are not exploring, and it remains to be seen if they are self funding. I would love for them to be successful, but it doesn't look good right now, and I am very concerned for the future.

[rmart] 31/5/2013 11:22

your all doom and gloom at the mo. But imo this is the time to buy into Vane.

It is a company with around £3m income per year from its mining in Mexico plus it has assets up for sale and lots of potential new projects.

It will only take a decent update for this to go 3x to 5x the current share price IMO.

I can understand long term holders frustration though.

Results due June so not long to wait for some indication of plans.

[martin c-j] 31/5/2013 11:09

Looking at the Strathmore Minerals offer, C$29 million doesn't seem a lot for several hundred millions worth in the ground. Doesn't bode too well for VML with about $100 million in the ground. But at least VML's targets have much higher grades, compared to Strathmore and that in itself should make them attractive to a buyer.

With Energy Fuels being acquisitive could be good or bad news for VML. They could either already be looking to add VML to their list or they may well just say they have had enough for now.

Maybe U-1 can find a buyer for everything including their own mill, and that will help VML out.

[kiwimonk] 31/5/2013 09:59

aren't ferrets vermin martin?

Have Vane sold any office chairs yet to bolster the coffers?
Should get an RNS stating a few cups by the sink have been given away to some useless charity shop.
Let's hope so.

[martin c-j] 31/5/2013 09:26

freddie - you are so full of sh*t. I'd love to know where you dreamed that up from. I've made it to three out the last four AGMs for VML. I don't remember seeing any ferrets there.

[rmart] 30/5/2013 20:27

edited

£5m would be good, but I think it will be more than that. The one project they are trying to licence has a min of 1.1m lbs in place. That is a min $50m dollar project alone and the 50% of that has to be worth £5m. I think more in the region of £7m but paid over a period.

Pure guess work though. Maybe the results will be out in June and we may be given more info.

[freddie ferret] 30/5/2013 17:12

Martin makes his money shorting this by spread betting IMHO.

[martin c-j] 30/5/2013 16:38

Well, they only have a half share in both the Rose project and Wate. The rest of the breccia pipe targets are more or less unproven. If they get £5 million for the Uranium assets, then that would be a much bigger value than the stock market has put on the company. Add to that a few million from the US govt for the withdrawal of federal lands, and the bank balance might look healthy for once. They have yet to make any significant discoveries with the drill bit themselves, in all the years they have been exploring. They need to do more McGhee Peak type targets, and then maybe one will eventually come to something.

[rmart] 30/5/2013 15:50

That is the big question, we are all waiting for the answer. I have no idea.

[gazza102] 30/5/2013 15:20

well the uranium assets - what price????

[rmart] 29/5/2013 16:02

sell what for ? They are trying to sell all the uranium assets not just this one project.