Vimy has permitted additional drilling activities at the Alligator River Project, subject to available funding.
Are there a couple of words missing in that sentence?
Use of Funds
The funds raised from the Placement will be used to progress the Alligator River Project in the Northern Territory and the Mulga Rock Project in Western Australia, as well as for working capital purposes.
Alligator River Project – activities to unlock the potential of this world-class project, including diamond drilling, passive seismic, surface surveys, radon emanation, baseline environmental studies and planning the future exploration programs at Angularli and Such Wow.
Mulga Rock Project – activities to refresh input data to the January 2018 Definitive Feasibility Study and consider an optimisation.
And this
Planning for additional drilling in the northern section of the Such Wow prospect and Angularli prospects is underway, via either diamond or reverse circulation drilling, to be carried out in late September or October if funding allows.
What are they talking about "if funding allows" We just had a cap raise, they should know exactly what funds they have available and for what. They told us what the funds were to be spent on.
Are they saying, "if there is any change, we'll drill a few more holes"?
VMY Price at posting:
6.7¢ Sentiment: None Disclosure: Held
