Thanks for that link. I am not up with the history tbh but clearly this 2013 PFS from Avalon pre-dated the 'sale' of the Upper Zone (UZ) to Cheetah/VML. So the PFS, whilst acknowledging the two zones (Basal and Upper), was going to mine them together - underground! Not a cheap prospect, even back in 2013, at $1.5B (Canadian I assume) and an average IRR (20%).
Their new PFS is clearly going have to account for the VML UZ resource and seek some sort of concessions at least from VML to locate their surface infrastructure in a mutually agreed location and also allow for future mining by VML above that being undertaken by Avalon. All seems unnecessarily complicated unless they join forces as a single project as conceived in the 2013 PFS!
Have drawn the arbitrary 150m level 'split' of resources on a deposit cross-section below - clearly the resource is not mindful of that split and the deposit varies above and below that level - more intercompany pragmatism required to resolve in practice!
(20min delay)