It is interesting how this new development wasn't announced on the ASX. Is this new information because if so it should have been disclosed?
1. The fact that the "promoter" is now onboard in the project now suggests beyond reasonable doubt that FP is a success. Surly this "promoter" has inside knowledge about the project - their involvement basically confirms this project as financially viable.
2. Vil gets some money from losing 5% interest in the project. Not alot of money but enough to widthstand another CR whilst waiting for the cashflow from FP to come in.
3. It gives an indication of a timeline of events for the short term. "expect production to start by May...Our plan is to bring the lowest interval into commercial production as soon as possible and then continue to explore the remaining project area". From their last production update I can remember that they weren't sure of the direction for the comming months.
Having cashflow in May and then testing the remaining area soon after could see a major upside in the SP. Surely the plan is to get VILO in the money and then use that capital for future development.
