Significant re-rating on horizon, page-101

Yes I agree it is split over multiple sites and they could drill the most prospective areas first, but there is nothing in VIC's announcements to suggest that their intention is to do so. All they have said is that they have finalised the drill pattern (as shown in the announcements) and that they intend to deploy to driller, presumably in accordance with the finalised drill pattern.

Also agree that PGM's figures are not broken down into lab work etc, but they are a total cost. But the figures must be of some relevance, as surely if VIC drills it will also need to do lab work etc to interpret what is down there. It's not like drilling for oil and you can visibly see if the well flows or not. With these proposed VIC holes the lab work is needed so it is known what is down there in parts per million for the purpose of JORC. Otherwise the drilling is for nothing.