Watched the recording of the preso - quite impressive. Here' my take/notes: So our mining tenements are 10 times bigger than the second largest Silica producer, who currently stands at approx 35 hec. Our project is the largest Silica sand footprint the EPA has ever seen - not surprised about the level of scrutiny and with the EPA dotting their I's and crossing their T's.
According to Bruce, DVT is the best process for preserving vegetative growth, the only hitch though is that it has never been proven before - nobody has lodged an application with the EPA claiming use of the DVT method - so that in itself will get a lot of scrutiny.Fortunately for us, Illuka have conducted trials, and our consultants have done similar work for Iluka, and are adamant that DVT is a far superior method - I think its only a matter of time before the EPA accept this.If they respond to these delayed questions in the next month (which Bruce has stated they should be able to) and after that we have the 30 day public review publishing - you can expect delays (as I already stated above) due to Christmas season.
Due to the fact that we are dealing with Kwongan Heath - basically shallow rooted, no trees area - there is minimal to no-risk of nesting areas for Carnaby cockatoos
Have been shortlisted for a $2 million grant - what's not to like? Will certainly help towards remaining cashed up and prevent dilution.
He's keeping an eye out for second hand gear, there's an additional couple of items they are considering (apart from the trommels and banana screeners we are already re-conditioning) - this is smart use of our existing cash reserves. I'm sure most if not all of us are convinced beyond a reasonable doubt that this is not a lifestyle board.
Keeping the faith.
VRX Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
