ATI 0.00% 17.5¢ atlantic limited

are we still takling to vinacomin?

  1. 1,334 Posts.
    The following extract from the 29th October ASX Release from Atlantic is in reference to the current drilling being done by Geosimco. From what I can see and without any forthcomming information being presented to the contrary, I understand this drilling campain is currently underway.

    In light of the many posts over the past week that have highlighted a bad article and what appears to be a concession that Vinacomin / Atlantic relationship is dead in the water, I would have expected we would be notified if

    1. The drilling has ceased?
    2. Does Atlantic have a hold on the area that was to be or is being drilled?
    3. If Atlantic has a hold on the area being drilled, and Vinacomin is out of the picture, can ATI find another partner to (maybe T-MV) to support the drilling/exploration?

    When can we expect the next announcement on the progress of the information detailed in the 29th October announcement


    "During the quarter, Atlantic engaged local contractor Geosimco to undertake the initial exploration program at the Bao Lam concession. The exploration program, which will include a combination of boreholes and shafts to a depth of 7 to 10 metres, will endeavour to delineate an initial inferred resource on the Bao Loc project. A total of approximately 85 drill holes and 50 shafts are planned, with the program anticipated to be completed within a month
    of commencement.

    Previous sampling by Atlantic assayed 47.9% Al2O3 (washed and screened), 46.15% available Al2O3 and 1.04% reactive silica. These results were consistent with previous exploration data from trenching and shafts. The exploration program at Bao Lam is planned to commence in
    early November.

    Atlantic also continued its ongoing joint venture discussions with Vinacomin, the Vietnamese
    state owned bauxite and coal mining company. These discussions focused on securing a larger scale project, associated rail and port infrastructure development and mining and export approvals.

    This expansion of the nature and scale of the proposed joint venture relationship will mean a longer time frame for completion of discussions, but with a potentially much larger project development opportunity for Atlantic. The discussions have been very productive to date,
    however it is still unclear exactly when they will be successfully concluded."
 
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