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11.8¢ vimy resources limited

Ann: Alligator River Prospective Corridors Identified at Such Wow, page-5

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ulrich

12 Posts.

04/12/18

17:19

Post #: 36747913
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Originally posted by ruthlessvillian ↑

Realistically, even if they have a mammoth discovery, what are the chances of getting the local indigenous land owners to agree to let them build a mine??? Even ERA who have operated the Ranger mine up there for the last 30 years cannot get the local aboriginals to approve the Ranger 3 deeps project, which is just an extension of the existing mine, so on that basis I would say VMY have buckleys chance of getting approval for a new mine. Not to mention the fact that the current WA state Government has clearly stated that there will be no new mines approved on its watch, and they will in all likelihood get a second term in government, so any government approval is a decade away at least.
This project is not going to increase the shareprice, only drag it down while they keep spending money on it.

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An Indigenous Land Use Agreement exists for Alligator, which is in anycase in the NT and not WA as you seem to suggest.

VMY Price at posting: 6.0¢ Sentiment: Buy Disclosure: Held
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