Originally Posted by
shasta
You have Cardinal Resources ASX-CDV, MNG Gold and West African Resources ASX-WAF in the neighbourhood, so would make sense for CDV/VML in particular to form some sort of allliance/JV regarding drilling costs, and WAF is currently conducting a feasibility study.
Bear in mind CDV and WAF are much larger than VML. I've not looked into MNG as they aren't ASX listed.
NB. This coming quarter both CDV and WAF will have updates on resource upgrades, so watch out for any high grade results around VML tenements.
I'd want VML to sell the Tungsten project and use the funds to accelerate a drilling programme on the gold projects, having 2 completely different projects in 2 countries increases costs, and for a junior explorer cash burn rate is critical.
I need to find out who owns the nearest milling plant, what capacity it has, and what companies have contracts to supply it.