The same thing can be applied to many penny stocks like Halo they are all down some lucky to even get partners. Wish it were better perhaps the future will improve?
Hudbay have position in many small companies. They got out of supporting Aquila AQA. They have a position in BMK McDonald Mines also going nowwhere. Here is the latest on VMS Ventures and look at their share price. It is just what it is and may take time to recover to put some value in the share price?
VMS Ventures, HudBay finish trench excavation at Reed
VMS Ventures Inc (C:VMS)
Shares Issued 129,668,399
Last Close 9/12/2012 $0.20
Thursday September 13 2012 - News Release
Also HudBay Minerals Inc (C:HBM) News Release
Mr. John Roozendaal of VMS Ventures reports
VMS VENTURES INC. PROVIDES UPDATE ON REED COPPER PROJECT IN MANITOBA
VMS Ventures Inc. has provided an update on the Reed copper project near Flin Flon, Man., of which it owns 30 per cent, while its joint venture partner, HudBay Minerals Inc., owns 70 per cent.
Development activities continue to be on track and on budget. The trench excavation is complete and ground supporting of the walls is under way, with the first development round at the portal expected before the end of September. Grouting of the portal, ventilation raise and escape raise areas is all complete. Office and dry facilities are assembled, and water, power and sewage services will be completed this month. The shop and warehouse building are scheduled for completion in December.
VMS Ventures' chief operating officer, Neil Richardson, states: "The Reed copper project is going very well. We expect to be at the 60-metre level before winter. HudBay crews and contractors continue to do an excellent job in getting this deposit to the mining stage, and we look forward to seeing the operation advance towards full production."
Mining at the Reed copper project is expected to begin by the fourth quarter of 2013, and is anticipated to ramp up to full production of approximately 1,300 tonnes per day by the first quarter of 2014.