That is the wrong take.
The ban prevents us from 'mining'. It does not prevent us from advancing the project. We need to keep advancing the project. That has always been our problem.
The ban does not prevent us from completing the DFS. It never has!
That was the WHOLE point of the friggin $12.3Million raise! Or, have you forgotten?
12 months ago, RH raised $12.3Million for the express purpose of conducting a pilot plant, to test the metallurgical properties of the ore, and to test the proposed milling & refining process.
We would need a DFS to give this project the credibility it needs on the global stage. It major milestone for the project. It's not just necesssary for any propective future funders...(banks, instos etc)...but, it also adds enormous value to any prospective future takeover.
It would add enormous value to the stock, regardless of the WA mining ban. Because, it would give the banks, and institutional investors, and any potential takeover parties, the confidence that technical, logistical, and financial risk were resolved, and that the project was proven to be operationally feasible.
Now, the DFS report itself takes 6-12 months to complete, assuming no issues. But, prior to the DFS report, we need to complete a whole bunch of bulk sample drilling and geotech drilling, as well as design & build a friggin pilot plant. The construction of the pilot plant itself, could take 6-9 months. The the drilling campaign and then the subsequent pilot operation work to optimise the flow processes with the bulk sample material, could take another 6 months.
One of things that made Vimy so attractive to Borschoff (other than having achieved final WA environmental approval) was that it had a completed DFS. Mike Young understood the value of the DFS process to the market.
And the longer we wait, the more expensive the DFS process gets...
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