Last C$0.31 CAD
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vms ventures inc (VMS) Snapshot

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06/25/14 - C$0.34
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vms ventures inc (VMS) Details

VMS Ventures Inc. acquires, explores, and develops mineral properties in Canada. The company primarily explores for copper, zinc, gold, and silver deposits. Its principal property includes the Reed Lake project located to the southwest of Snow Lake, Manitoba. The company was formerly known as Rare Earth Metals Corp. and changed its name to VMS Ventures Inc. in January 2007. VMS Ventures Inc. was incorporated in 1996 and is headquartered in North Vancouver, Canada.

Founded in 1996

vms ventures inc (VMS) Top Compensated Officers

Chief Financial Officer, Director and Member ...
Total Annual Compensation: C$80.8K
Corporate Secretary, Director, Member of Mana...
Total Annual Compensation: C$45.3K
Compensation as of Fiscal Year 2013.

vms ventures inc (VMS) Key Developments

VMS Ventures Inc. Reports Reed Mine Update

VMS Ventures Inc. updated on the progress made at the Reed mine, near Flin Flon Manitoba. The Reed mine continues with no lost time accidents and the focus is on ramp development down to 185 metre level. Highlights for May 2014: 809 days with no lost time accidents, development advanced 233 metres in May, 1432 metres year to date at an average of 9.5 metres per day, production of 40,621 tonnes, total of 147,864 tonnes year to date, Mined from Zone 30; stopes on 85 metre level and 135 metre level and development ore from both Zone 20 and 30 on 135 metre level. The focus for June will remain on safety and continued ramp development to the 185 metre level and ore production from Zone 30 stopes.

VMS Ventures Inc. Announces Management Changes

VMS Ventures Inc. announced that Richard Mark, the Chief Executive Officer and Chairman of the company, has tendered his resignation as of June 16, 2014. John Roozendaal, the President of the company has assumed the role of Chief Executive Officer.

VMS Ventures Inc. Completes Ore Sales and Purchase Agreement with Hudbay Minerals for the Reed Copper Mine

VMS Ventures Inc. announced that in keeping with the Joint Venture Agreement with Hudbay Minerals Inc., it has successfully negotiated and executed a definitive and binding Ore Sales and Purchase Agreement (OS&P Agreement) with Hudbay regarding its 30% share of production from the Reed mine, located near Flin Flon, Manitoba. The OS&P Agreement commercial terms negotiated in accordance with the overriding principle that both parties be treated fairly, reasonably and transparently and that each party be guided by the objective to secure fair pricing. Revenue earned by VMS from the sale of its share of Reed ore is contingent upon actual mill recoveries achieved at Hudbay's concentrating facility in Flin Flon, and on the actual mining, milling and other operating costs associated with producing and selling both copper and zinc concentrates from the Reed ore. The price payable to VMS for its proportional share of copper concentrate produced from Reed is based on benchmark terms and pricing agreed between Hudbay and its purchaser of copper concentrate. The selling price for Zinc concentrates for VMS's share of ore produced at Reed will be based on standard third party commercial terms for treatment at a Zinc refinery for each particular year of operation. VMS will start receiving cash flow from Reed once its share of capital costs incurred in mine development are repaid to Hudbay.


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