VMS Ventures Inc.

Recent drill results include 6.69% copper over 71.69 metres and 3.74% copper over 21.77 metres from in-fill diamond drill holes at the Reed Lake Joint Venture (Hudbay HBM:TSX) Property. The company has a dominant land position in the prolific Flin Flon-Snow Lake VMS mining belt. VMS Ventures is well financed with over $11.9 million in cash equivalents.

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Re: Hudbay takeover

VMS Ventures Inc.

almost 16 years ago

in response to XP-Collector's message

What is the potential for this takeover? The potential is extremely high IMO.

What do you think will be the offer? Impossible to come up with anything accurate at this point. I wouldn't even try to guess until the market has recovered a bit and copper prices are back up and have stabilized somewhere around $3 for starters. I'd say an estimate might be more plausible if and when we actually find the source mineralization of these lenses we are defining.

With an eventual 10-15 million tonne deposit at similar grades I could easily see something in the neighbourhood of $4-$5 per share. Of course that is with copper prices back to a more favourable level.

Management would not entertain let alone accept any bid at this time IMO. Simply not enough drilling / defining has taken place. Many more targets to drill and that ellusive motherlode...

Cheers.