Well well, this is a very interesting development. I am just catching up on all this due to living in a different time zone.
The Announcement for the trading halt clearly states this is in regards to the Muchea BFS.
However, what intrigues me is that VRX consider this material enough to call a 2 day trading halt while they line the ducks up for release.
Now, VRX would not call a TH just for a BFS, the two for Arrowsmith were hardly small fry with a combined total sales of $5 billion over 25 years, and they were just released to market.
So what is the difference here?
We know:
1. Grades and purity are higher straight from ground at Muchea.
2. China Southern Glass have entered into a strategic alliance with VRX for Muchea.
3. CSG are going to assist with sourcing funding for the project
4. CSG are going to assist in marketing VRX products in the PRC.
5. Bruce is apparently overseas in meetings and presentations.
6. A "Material announcement" involves money
Putting this all together I am fairly confident that the BFS is going to be impressive and will probably far exceed that of Arrowsmith.
On top of that Bruce must also be in the middle of negotiating funding for the project(s), probably a combination of debt funding and off take agreements.
If Bruce is at this stage, we can also conclude that the mining license approvals cannot be far off either.
A 2 day trading halt gives Bruce time to get back to Perth and organise an orderly announcement process, there may be media other presentations too.
Thoughts?
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