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Re: elkonig post# 7

Saturday, 05/25/2013 12:19:17 PM

Saturday, May 25, 2013 12:19:17 PM

Post# of 12
Thanks elkonig,

There have been no revenues to date with any of the companies.
Here's more info on VMS Ventures (an update see below)

These are speculative stocks except for VMS.V/VMSTF as VMS will have revenues from their Reed Mine JV.

THE REED COPPER MINE
PROGRESS & UPDATE

534 Meters of Underground Development Completed


Vancouver, B.C., May 24, 2013 VMS Ventures Inc. (TSX-V:VMS) (“VMS Ventures” or the “Company”) is pleased to update shareholders on the progress made in the month of April at the Reed Copper Project, near Flin Flon, Manitoba. VMS Ventures owns 30% of the project and is carried to production. HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay") owns 70% and is the Operator.
Considerable progress was made at the Reed Copper Project in the month of April, including:

(i) Underground development advanced 171 metres and represents the greatest monthly advance rate since development commenced on the project; underground development at the project is now 534 metres;

(ii) Sinking of the 16 ft diameter ventilation raise from surface is now 66% complete;

(iii) Two permanent 1.6 Mw generators and the electrical house were commissioned into service, replacing three temporary generators;

(iv) A new communication system was installed; and

(v) A fire-fighting well pump was commissioned.

The focus during the month of May is the continued development of the underground ramp and the vent raise, along with ongoing construction activities.

COO Neil Richardson states: “We were pleased with the improvements to the advance rates of the ramp and ventilation raise during the month of April, which are key components to the Reed project’s development. Reed continues to develop as planned and remains on budget. It is noteworthy to mention that mine and camp construction have now proceeded for 412 days with no lost time accidents”.

On May 1, 2013, Hudbay reported that approximately $37 million of the $72 million capital construction budget for the project has been invested as of the end of the first quarter of 2013 with an additional $13 million committed as of that date.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About the Reed Mine:


? Initial production at Reed is expected by Q 4 - 2013 and will ramp up to full production of approximately 1,300 tonnes per day by Q1 - 2014.

? Average expected reserve ore grades of 3.83% copper, 0.48 g/t gold and 6.02 g/t silver, slightly better than PEA due to the exclusion of the inferred resources in the pre-feasibility study.

? Assumed metal recoveries in HudBay’s Flin Flon Concentrator of 94% copper, 58% gold and 62% silver.

? Production ~ 17,000 tonnes of copper metal concentrate per year.

? Total operating costs estimated to average approximately $90 per tonne milled ($67 per tonne mining, $16 per tonne milling and $7 per tonne administration) over a five year mine life.

? Sustaining capital expenditures are expected to total approximately $52 million over the five year mine life.

? Pre-Feasibility pre-tax NPV (8%) of $57.4 million using weighted average metal prices of US$2.95/lb. for copper, US$1,269.09/oz. for gold and US$24.78/oz. for silver.

? Forecasted cash flow of $102 million dollars to the JV or a 34.7% IRR.


VMS Ventures owns approximately 27.5% of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., visit www.northamericannickel.com.


Website: http://www.vmsventures.com

Symbols: VMS.V / VMSTF.OTC



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