I'm trying to distill the information that VRX has supplied to the market
in recent months to anticipate what type of announcement would have
been in Bruce's mind when he suggested that the 2-3 month period
(i.e. 8 May- 8 Aug) was going to be an "exciting" one for shareholders.
In other words, are there any reasonable grounds that we can expect
some significant news from VRX in the next 4 weeks ? Such news might
give the SP a bit of a lift, and thereby re-assure some option holders
to convert. The main items listed in the ASX update of 25 May were
Permitting/Grade Control/Engineering/Power/Port/Offtake/Financing.
Probably only Permitting and Offtake are the topics of most immediate
interest to shareholders. Its hard to imagine that progress on the
others is going to generate much excitement. The latest updates on
these two topics were given in the Kalkine media report of 24 June 2021
https://kalkinemedia.com/au/sponsored/what-the-future-has-in-store-for-vrx-silicas-world-class-silica-sand-projects
Offtake:"...Besides, the silica sand explorer has recently supplied bulk samples for
furnace testing to potential offtake partners. VRX Silica intends to finalise
its offtake agreements this year."Doesn't sound like VRX expect offtakes will happen anytime soon,
just sometime between 25 June - 31 Dec 2021.
Permitting:
"...Recently, the Arrowsmith North project has moved to the next phase of
the environmental approval process with the Environmental Protection
Authority of Western Australia (EPA). The Company expects to obtain EPA
and mining approval for the Arrowsmith North project in 2021."Again, doesn't sound like VRX expects this to get final approval anytime
soon. They are saying they expect to get EPA approval "in 2021". In reality, this
may blow out to April 2022, if you assume the timelines in the EIA procedures
manual (page 48) are a better indication.
In summary, I can find no clues in VRX's announcements to the market that
suggest we are set for "exciting times" for the next 4 weeks. Delphi may
announce an increase in % holding, but that's not exactly exciting.
Does anyone have any further ideas based on previous hints to the market ?
All IMHO, DYOR
(20min delay)