With reference to the covid restrictions and lockdowns, VRX operate in WA which is fortunate for us! The risk of being stopped is minimal in WA and being in mining, the risk is even more minimal, I wouldn't worry about that. I work in construction and mining as Finance Analyst, and we have been told by the governments our operations will be exempt from any lockdown and will proceed, this includes both mining and construction. In fact, they are actually ramping up these operations to provide economic stimulus.
There are a few reasons why the ML could be taking so long:
- Recent Rio Tinto issue, the government will be taking extra diligence with respect to heritage sites and land.
- Government approvals are slow and tedious.
- They will have follow up questions and expectations.
Overall, I expect the ML to be granted this quarter, and ideally this month. The indicative time frame suggests that site construction will begin in Q4, and I expect this to be the case.
