My original concern was the interpretation of the word "substantial" in the ministerial statement. And Vimy announcement had listed an earthworks task list that seemed way too aggressive for the time remaining.
But, after looking into the definition of the term, it seems clear to me that it refers to the installation of any infrastructure, except signage and fencing.
Now, I've previously been involved in planned the setup of minesite capital infrastructure in support of an overal mine plan. Semi-permanent, pre-fab modular buildings such as a simple minesite admin building, toilet block, comms tower and genset to power...all up, I can see being installed in 2 weeks. So, for me that is no longer a threat. DYOR.
There's one more thing. Mike Young left a final message on twitter, following his departure, from his own private account. This was different, he certainly didn't have to do this. This was his legacy after all, and his words would be remembered. In it he was very relaxed about the approvals process, adamant about the company startup, and he was clearly proud of his achievements. My sense is that Vimy was a very personal project for Mike, I don't think he would comment publicly the way he did, if he was fired over a serious issue with approvals...and Vimy would have had to disclose such a material issue anyway. No, I believe him, when he says he was just over it, after 7yrs, and is now looking for another snowball to push up a hill. The average CEO tenure is 5yrs these days.
So, there you have it.
VMY Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
