SPX and partner CHN, page-18

Excellent points. VMC outsource their mining to RXL so their cash burn rate is slower.
The drilling program is not as intensive as SPX nor as advanced so it is difficult to see the results so as you said it is too early to call.

If there was a possibility that SPX had the intent to use the Younami mine then VMC would win either way. I am speculating here but is it possible that SPX may not have intended to use Younami and this is what also prompted reasons for the lawsuit ?

Two additional points to make:
- Would VMC have investigated Penny West eventually even if they did own the land? By their own admission they have claimed near status as a justification to start the drilling program.

- This claim might actually be a strategy by VMC to hamper any take-over bids on SPX. Perhaps even draw more attention to themselves as a better offer.