Vane Minerals Share Discussion Threads

[gazza102] 29/5/2013 15:56

Hi

That's very true and getting the permits is no bad thing. Obviously there are costs involved. Out of interest how much would you be willing to sell it for?

£5m???

[rmart] 29/5/2013 15:34

I am not sure about the selling price, or if they will get a sale of the uranium assets although they have said they should be able to give a positive update soon on that.

It is interesting that they have put in for permits to open this project up. There are a min of 1.1m lbs of uranium to get from here. That is a min $50m project and the current market cap is £2.8m !.

IMO a positive update and shareholders given some direction will see this up at 1.7p - 2p again.

[gazza102] 29/5/2013 15:25

I now understand. Do will have any $$$$$$'s!!!!!!!

I know it will be factored into the selling price. The price has just gone down a bit then!!!

[rmart] 29/5/2013 15:08

Gazza102, they have agreed to a different project. Its all about $$$$'s. There will be a deal to do. They are rightly playing hardball.

[martin c-j] 29/5/2013 15:07

I'd say it was bad news. There's going to be opposition to uranium mining anywhere. And to see the Navajo doing what they can is no surprise. It's up to Vane to convince them that they will ensure it is done safely and without risk.

[gazza102] 29/5/2013 13:47

Bad news then!!!!!

[martin c-j] 29/5/2013 12:24

I understand Kris Hefton is still with VML, which is a good sign, as I thought he didn't have much to do on the exploration front. Hopefully he is hanging around long enough for them to find a buyer for their uranium assets.

As for the Navajo plans to block trucking of ore across their land. I would hope they could come to some sort of agreement.

[gazza102] 29/5/2013 12:06

In regard to the news article above - Is that good news or bad - A bit confused.

[rmart] 29/5/2013 11:02

well I just thought the news articles which show they are up to something may have caused some discussion.

[gazza102] 29/5/2013 09:03

rmart - what's there to talk about until they tell us what is going on?

[rmart] 29/5/2013 08:23

gosh, this board is quiet. This is a pretty unloved share at the moment.

My share purchases of a few days ago have still not shown up.

[rmart] 28/5/2013 09:13

money talks, as soon as they get a deal in place this will be a go. 1.1m lbs over 1.5 years is a nice big chunk to Vane.

[richgit] 28/5/2013 00:17

From what I have been reading about eventual Uranium supply problems for
the US and of course the ambitions of China-this is not the time to be selling Uranium assets.

No doubt there will be some in the US cursing that all that acreage
has been somewhat un-necessarily been made unavailable.

Sods law suggests it will eventually become available,but then that`s just my conjecture.


However if needs must,and it puts money in the bank for something else-then so be it.


GLA

[combo83] 23/5/2013 21:03

Reality check: they are not drilling, have no permits to drill, and the language of recent RNSs suggests their cash position is not strong and they are operating at approximately breakeven.

"The Company is taking all necessary steps to reduce its total costs to match its expected future income." -- 30 April 2013

There may be some positive surprises (e.g. uranium asset sale, copper drilling agreement), but there may be negative surprises too (e.g. low grades affecting revenues).

Just being realistic. As you may know I was optimistic about VML but the story changed from "self-funded explorer" to "cash preserving non-explorer" -- that's why I sold. If the story changes back I will reconsider. Good luck all.

[rmart] 23/5/2013 16:57

Still no buys showing, well out of order.

[phsycho] 23/5/2013 11:57

You are right Martin, something just isn't right. DN always said VML was an exploration Co first and foremost, and a rare one that has small production operation to fund it.

I cant see too much of a stumble in cash generation to stop it completely, when you consider the potential of the prize and that they have the deal with Freeport and why for so long? No loans called in or pressing cash requirements that we have been told about.

Also as you say, DN ups and leaves with no explanation.

[martin c-j] 23/5/2013 11:21

rmart - I hear what you are saying and have believed the same as you for years. Why are they so low when they have so much going on.

Well, very little is going at the moment. Other than the mill operating at capacity, they have stopped everything else.

Firstly, David Newton leaving is a major negative. The market needs to know why he is going. The fact that he is not going until July, I take as a positive because if he had upset the board he would be gone yesterday.

Secondly, they need to update the market as to their cash levels. At Christmas they had about £1 million. That should have gone up to at least £1.5 million, and I really hope £2 million.

Thirdly, why has all copper exploration stopped. The targets were meant to be cheap to drill at $100,000 to $250,000 per target to drill. At least plan 2 a year. But to stop it all is alarming.

Fourthly, the uranium industry is clearly suffering, but breccia pipes usually cost about $30 per pound for extraction costs. As long as yellow cake is making $55+ per pound I would have thought their uranium resources were an asset, and hopefully someone will turn up soon and make them an offer. If it isn't Energy Fuels though, I don't think they have any other alternatives. Unless a new canadian minor can raise the funds to buy U-1's mill and all of VML's targets.

[rmart] 23/5/2013 11:20

Why do you say stopped dead in their tracks ? cheers.

I did buy yesterday, and today. 136k and 449k they will show when the mms are ready .

[martin c-j] 23/5/2013 11:11

If you did buy yesterday it hasn't been reported, which either means its part of a large sell order or the MMs are cheating. The spread is very wide right now and if the MMs really wanted people to buy they would narrow the spread and lower the offer. It could mean anything at the moment.

The market cap is below £3 million, and this values their assets at basically £1 million to £2 million excluding cash. What's the mill in Mexico worth? Must be worth something as its generating $2 million in revenues per quarter. They have 100+ breccia pipe targets and two reasonable uranium resources. Someone must want them too. But they stopped dead in their tracks and like a shark need to keep swimming to survive.

[rmart] 23/5/2013 10:58

Martin,

I keep reading and reading over and over all of the previous rns and about details of projects and cannot for the life of me see why it is so low.

David Newton leaving is no big loss, he has only been with the co 2 yrs. The uranium land issue is not am immediate concern as uranium is priced too low at present anyway. The gold mine production is set to increase this year (unless I have missed something) with Saltito expected to start production during 2013. They have the uranium assets up for sale with a positive announcement on that expected soon. Gold grades in existing production have improved and should see increased revenue in Q2.

So whats the problem ?

I am in favour of balance so if someone can point me in the direction of the negatives I will look at them..

In the meantime i added some more today.

[rmart] 23/5/2013 10:17

so the mm's show a sale immediately. but the buy from yesterday, not shown, and the buy this morning also not shown, naughty !

[martin c-j] 23/5/2013 09:54

Yep, I'd agree with you. Just a decent update is all thats needed. My wish list:
£2 million cash in the bank; Wate getting permits; A date for the trial with the dept of interior; and just maybe a partner to diamond drill McGhee Peak.

[rmart] 22/5/2013 22:35

It's a punt but bought some more today and it never even showed up ! The mms are playing with this one IMO and it could rocket on a decent update.