The devil is in the detail. For me, the first tenant is "don't incriminate yourself", so only tell them answers to questions they ask.
BUT, in this case, VRX decided that the DVT method was a going to be an EPA beauty pageant winner - and I have to admit that superficially, it seems like a proactive method to use.
However, that then brings innovation onto the table. Politicians like innovation - it makes them look clever and futuristic - Public Servants do not like innovation, because it means something new unproven, and possibly risky. And their bums will be the ones hanging out if it fails. So then, they start to ask questions... probably about how this new method aligns with tried and tested ones.
The EPA know full well how much power they wield. So a degree of humility and sucking up would probably go a long way to greasing the relationship with them. I'm not sure Bruce does Humility.
No we weren't in the room, so from here on in, we can only surmise...
VRX bring this method of veg clearing to the EPA table. The numpties at the EPA nod sagely, but may not actually understand it. (They don't want to look stupid, after all). But then they try and imagine how it compares to traditional topsoil strip and stockpile, then revegetate... maybe they even think that's what DVT is. They don't understand it take the shallow roots and small veg and transplants it. They look over it thinking that, and are less than enthusiastic...
This is where the "tell a story to bring them along" needed to be deployed. It was used by Iluka? Don't just say it - show them. Show them rehab areas, show them regrowth. If it is so good, and Iluka are happy with it, are there reports from Iluka's enviros they can submit as addenda? Photos, videos, before-and-after... I would expect that VRX have committed a serious amount of money to DVT as their chosen rehab strategy, there must be a solid background to it. Iluka are not our competitors or the enemy - they are working with SUV to assist them - so I would imagine they would have been willing to share information (because this is a good news story for them, too: "Our rehab is so good, others are now using it")
Using that logic, it may not be the DVT as such that has scared the EPA. It's possibly the effect on foraging habitat. Does VRX have a tree study mapping every single significant tree on the lease? I think they do - they commented in the AGM about avoiding them. So has the story been made clear?
My feeling is it's not the DVT as such that would worry the EPA - look at the unholy mess Iluka make up the road - it's the outcome - the rehabilitated mine site, that the EPA want to measure up. That, and any impact on protected species... My guess is there is something not being answered in enough detail, or with enough evidence, around what is being left behind for future generations. Perhaps the perception within the EPA is not enough is being done?
I'm not sure this comes down to EPA resources - those turn around timelines are sacrosanct - but agree that shortfall may well delay responses to VRX's enquiries on how best to address EPA protocols - especially brand new ones.
Bamford have plenty of field experience - if you Google them, they are the scientists for a number of studies in the area, so I can see why VRX chose them. Do EPA like them? I have no idea. Personally, I though the quote they threw at the EPA smacked of arrogance that would immediately put me offside... Are they the best? Again, I can't say... except that if we did have the best, would we be where we are now?
At the end of the day, I might be totally wrong about all of this. And I do know as individuals we can't do a single thing about approvals timelines. But like @carna, I want my BoD to be honest and transparent, so I can accurately judge how secure my investment is, and how long before it is likely to show a significant increase in returns. And when I hear Bruce saying things that just don't line up with known facts, or deflect from known facts, as an investor, it concerns me.
Enjoy the weekend, folks.
DYOR - bring the receipts - GLTAH
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