To go over it, again, this is a step nearer to mining production.
All they are doing is defining an area of land in great detail, the area which they intend to mine out first.
It's the area where the road access and plant will be situated. It's as simple as that, mark out an area with detailed resource content to last them the first decade of mining.
Last year's capital raising was in part earmarked for all this final preparatory drilling work, which will also be essential at Arrowsmith Central and Muchea.
And yes this drilling is part of the test work required in order to satisfy the Port Authorities agreement with the Dept of the Environment - A classic example of duplicity if ever there was!
And for those who can't quite work out what VRX has been doing for the last quarter, I would imagine that the vast bulk of their time would be dealing with all the departments under the Department of Agriculture, Water, and the Environment, and also continuing negotiations with off-take partners and engaging with new customers.
As well as all the above, they still have to contend with doing business as usual activity, such as quarterly, half-year, and annual reporting.
I was surprised by yesterday's level of negativity when clearly this is another indication that VRX is progressing to the finish line quite efficiently.
In summary:
They are advancing towards gaining all final permits under DoAWE.
They are clearly engaging with ports and port authorities.
They are continuing off-take negotiations.
They are still shipping samples out to new customers.
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Ann: Arrowsmith North Grade Control Drilling, page-97
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