You are correct - Valence never mined. Uley 1 was the original project that was mothballed before SER acquired it and then floated off to Valence. Valence tried to use the old pit for tailings but were denied by S A Government, even though it had mostly refilled with water. Thus Valence had to construct a new tailings pond.
Valence started production using old stockpiles but they were found wanting a few more floatation tanks to cope with the poor quality of the stockpiles. Then Valence went bust before arising again with a 35:1 consolidation and a squillion free options for interests that were owed $$ [nil excise cost]
Once QGL get back above $20, then a lot of the old investors might start recouping their $$
QGL Price at posting:
51.0¢ Sentiment: Hold Disclosure: Held
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