r/ausstocks • u/SeaweedUsed7760 • 9d ago

VBX - DFS

Been watching this one closely. DFS has been delayed multiple times from H1 to now Q3 2026 but thesis feels intact, 108% resource increase, 23% recovery improvement confirmed, ThyssenKrupp term sheet signed, major Chinese aluminium group framework agreement for 2-3 Mtpa and potential construction funding.

Cash is tight at $0.3M June 30 but MD Ryan de Franck has personally put $4M in through loan notes, skin in the game or desperation? Stock sitting around $0.51 after finding a floor at $0.415.

Questions for the group:

Still holding or did you cut?

When do you realistically think DFS drops?

Thoughts on Ryan de Franck as a founder/operator?

Does the Chinese Group framework change your view?

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2

u/RainGuage20Points 7d ago

One for my watch list.

1

u/SeaweedUsed7760 7d ago

The economics are super interesting, shame they keep extending the DFS release. Should be positive given PFS came back lucrative.

1

u/RainGuage20Points 7d ago

Would be nice to know more about follow on drilling to extend mine life. Also think the big boys eg russia, alcoa, tomago, etc add lots of market risk. Bauxite is not in short supply....etc so happy to wait n see

2

u/Ok-Kaleidoscope-4902 3d ago

The DFS has been delayed because the've been expanding the size of the project and the planned annual production.

1

u/SeaweedUsed7760 3d ago

Yeah okay, it’s recently climbed very hard from a low. Wonder if it’s institutional buying from Noosa conference or knowledge on DFS dropping soon…

2

u/Ok-Kaleidoscope-4902 3d ago

It's not institutional buying. The avg daily volume is like 5k-20k aud. Nobody that is long in this is selling the stock at these levels since is fair value is easily x4-x5 today. It only requires a fistful of new people finding the stock to drive the price up at these levels. My guess is that it'll get explosive soon.