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post Posted: Oct 12 2019, 01:44 PM
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Posts: 34

In Reply To: blacksheep's post @ Oct 10 2019, 07:49 PM

I think you will find (if you do the research and ASIC searches) that VMC have a long association with the owners of Penny West,far longer than the principals of SPX.In fact it is public knowledge that VMC have been active in the Youanmi region for many years.If you do the homework you will find a connection between the owners of Penny West and the owners of the Youanmi Gold Mine which VMC had an option for purchase agreement in place since May 28th 2018. I think the owners of both were probably the same people but holding each project in different entities.
The timing of VMC's announcement last week is also obviously not a coincidence.The deal for SPX to acquire Penny West was made on October 16th 2018 and the bulk of the shares paid to the vendor in the deal are held in escrow until October 16th 2019 Wednesday.You can bet those shares are now frozen by a caveat preventing their sale or or other disposal. The pressure now will be on SPX,the vendor will be screaming saying "Where's my shares?!" The value of those escrowed shares on Thursday last was $15m.I would suggest that at the very least SPX will need to come up with about $20M in "go away money" to appease VMC in the best case scenario for SPX.

post Posted: Oct 10 2019, 07:49 PM
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In Reply To: blacksheep's post @ Aug 12 2019, 03:31 PM

Venus Commences Proceedings in the Supreme Court of
Western Australia against Spectrum Metals Limited

Venus Metals Corporation Limited (ASX:VMC) (Venus Metals or Company) advises that it has
today commenced proceedings in the Supreme Court of Western Australia against Spectrum
Metals Limited (Spectrum), DJ Carmichael Pty Limited (DJ Carmichael), Mr Paul Adams and
Mr Davide Bosio, as well as Spectrum’s wholly owned subsidiary Zebra Minerals Pty Ltd (Zebra
Minerals), in relation to Zebra Minerals’ acquisition of the Penny West Gold Project (Penny

The Company alleges breaches of fiduciary duty, breaches of confidence and misuse of
information that Venus Metals provided to Mr Bosio and Mr Adams of DJ Carmichael in July
and August 2018. The information provided to Mr Bosio and Mr Adams included information
about Penny West and the Company’s proposed acquisition of Penny West. The Company
provided the information to Mr Bosio in his capacity as a director of DJ Carmichael and to Mr
Adams in his capacity as “Technical Adviser” to DJ Carmichael. Venus Metals and
DJ Carmichael signed a Confidentiality Deed. At that time, both Mr Bosio and Mr Adams were
also directors of Spectrum. Spectrum, including Mr Adams, then undertook negotiations to
acquire Penny West and Spectrum announced that it had entered in to an agreement to
acquire Penny West in October 2018.

The Company claims a constructive trust over Penny West, such that Penny West is held for
the benefit of Venus Metals and its shareholders, alternatively that the other parties account
to Venus Metals for the benefits they have obtained and damages. It is not possible at this
time to quantify the level of damages that might be recovered; damages awards can be
impacted by many factors.


Spectrum Metals denies claims made by Venus Metals
Corporation Limited and will vigorously defend proceedings

This morning Venus Metals Corporation Limited (VMC) announced that it had commenced
proceedings in the Supreme Court of Western Australia against Spectrum Metals Limited (SPX),
SPX’s wholly owned subsidiary Zebra Minerals Pty Ltd (Zebra), DJ Carmichael Pty Ltd, Mr Paul
Adams, and Mr Davide Bosio, with respect to Zebra’s asset, being mining tenements at Penny
West (Penny West). SPX was immediately placed into a trading hold upon receiving notice of the

SPX has not been served with any proceedings.

Based on the content of VMC’s announcement, SPX considers that the allegations made are
without merit and intends to vigorously defend the proceedings. SPX will seek to expedite the
hearing of the proceedings. SPX is also considering any counterclaim it may have against VMC
including in relation to the circumstances in which the proceedings have been commenced.
SPX will continue its exploration program in relation to Penny West.

The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
post Posted: Aug 12 2019, 03:31 PM
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Posts: 6,791
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In Reply To: nipper's post @ Oct 12 2017, 01:06 PM

Seems VMC is targeting bonanza grade gold, according to recent PR's,at their recently acquired tenements

Venus Metals Corporation Limited (“Venus” or the “Company”) in conjunction with its Joint
Venture partner Rox Resources Limited (ASX: RXL), is pleased to announce the commencement
of a 5,000m aircore drilling program at its Youanmi Gold Project (Figure 1) and a short distance
north of the historical Penny West gold mine (Figure 1), the historical Magenta and Columbia
gold prospects, and the recent Penny North gold discovery (see ASX release by SPX from 5
March 2019).

Both companies SP have shot up recently - VMC currently 26c.. VMC's jv partner RXL also up - see graphs below. All 3 are getting lots of pumping by DT's, so take care

VMC has scored Christopher Wallin as a substantial holder - he's of QCoal fame - became a billionaire in 2011 then after coal price collapse nudged just under the billionaire status
#41 Chris Wallin

Venus Metals Corporation (Company) (ASX: VMC) is pleased to advise it has received an
application from Mr Christopher Wallin for a private placement of 6,000,000 new ordinary fully
paid shares at A$0.20 per share to raise A$1,200,000 (Placement

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
post Posted: Oct 12 2017, 01:06 PM
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Posts: 6,543
Thanks: 2265

Up 36% ... identified giant pegmatite at Poona East project in WA

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
post Posted: Aug 15 2014, 12:35 PM
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Certainly looks like this one has broken out.
upside targets could be quite high imo smile.gif

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post Posted: Jul 2 2010, 12:08 PM
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Renamed by request:




Share Cafe Sentifi Top themes and market attention on:

post Posted: Jan 27 2010, 10:21 AM
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Posts: 25

In Reply To: mme's post @ Jan 25 2010, 09:24 AM

And came screaming back down very quickly!

Tread very carefully here people devilsmiley.gif

post Posted: Jan 25 2010, 09:24 AM
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Posts: 8,076
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Not too much praise about this Company by looking at the postings but is up substantially on today's announcement. biggrin.gif Not holding.

post Posted: Dec 8 2009, 11:51 AM
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Posts: 25

In Reply To: BLAST's post @ Jun 15 2007, 04:44 PM

The last paragraph says it all for this board of Directors now driving VNS! Good luck!

On 16 October 2009 UMC and BHP Billiton Group (ASX Code: BHP) announced a

proposed conditional $1.30 per share cash scheme of arrangement between those

parties subject to the above transactions between CRM and UMC not proceeding.

We understand from CRM that each of the preconditions to completion were either

fulfilled or capable of being fulfilled by CRM before 7 December 2009 (including the

receipt of Australian Foreign Investment Review Board approval on 26 November

2009) save and except for the execution of an iron ore offtake arrangement between

CRM and UMC.

The Company is therefore disappointed to advise that completion of the Subscription

Agreement between CRM and UMC did not occur on or before 7 December 2009.

The Company used its best efforts to introduce CRM to UMC and to foster a

partnership to independently develop that entity’s Railway Iron Ore Project. CRM is a

reputable and highly credible Chinese State Owned Enterprise with unparalleled

infrastructure expertise and one of the largest steel product end users in China. With

such a strategic partner, the Company believed that the future prospects for UMC

and its Railway Iron Ore Project looked bright. Despite this, UMC and its Board

favoured BHP’s conditional cash scheme of arrangement at $1.30 per share.

The Company believes that Chinese investment in the Australian resources and

infrastructure sectors has significant benefits for Australia and Australians. Chinese

investment participation has the potential to fast-track project development, provide

or improve critical infrastructure to debottleneck Australia’s vast natural resources,

improve overall mineral project economics and facilitate job creation.

Along with its joint venture partner CRM and other Chinese contact networks, the

Company continues to seek business and investment opportunities in the areas of

infrastructure and off-take arrangements in respect of mineral resource projects. A

core focus of the Company involves working cooperatively with resource companies

and management teams it identifies as reputable, trustworthy partners to achieve

their corporate objectives where they are aligned with those of the Company.

post Posted: Dec 8 2009, 09:16 AM
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Posts: 25

In Reply To: BLAST's post @ Jun 15 2007, 04:44 PM

Stay away from this one, DYOR on the directors previous exploits, namely UMC. Check out the threads on the other popular forum (HC)

Sunk shareholders big time, manipulated and sold out to BHP ($1.30) for chicken feed with 120mt of DSO, SP had reached highs of $2.80!!!!!!!!!!!!!

Sunk Chinese who had offered more in a placement to get to port!

Threw away all other tenements as worthless after ramping them up.

Many lost a lot over and above the T/O price

Like I said DYOR big time, it will only end in pain


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