With these new American holdings, there is upside and exploration optionality.
However, the key is permitting. Do I understand correctly that these are, at least in part, brownfield assets?
"Brownfield" denotes previously mined land. Logically, the fact that these assets have already undergone mining implies that they have already obtained permits. Despite the absence of exploration in the last 100 years, a portion of the land has already undergone mining and must have had a permit to do so.
Having already existing permits (and not having to deal with the permitting idiots like we have here in AU/NSW) is a significant aspect of such an acquisition, which makes it attractive.
Thinking about it. There is probably a limit to how many years a permit lasts. These can be renewed.
Any new permits would likely be easier to obtain if they were previously granted.
Does anyone know the answer to this question?
Thanks.
SVL Price at posting:
12.8¢ Sentiment: Hold Disclosure: Held
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