The Fedral permit you are looking at from Toro's announcement released on the 10th July 2017 has the definition of "Substantially Commenced" on Page 4 of the permit. See below.
In regards to the 5 years , Toro is completing a engineering study to include Vanadium as a by-product this will need to be submitted to the government as a change to the current permit , once assessed the permit is extended another 5 years. This is common in the industry as new technologies or mining processes are introduced and new resources found. This will fall under
"Section 46 of the EPA Act 1986" . See below
If you go through the Toro threads alot of good people supply the information and answers some may seek.
The Fedral permit you are looking at from Toro's announcement...
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