I think you should wait and see what the budget at Carmax is before worrying. I thought they were only going to do core re-logging this year. At least maybe that's what Elmer wants and the Carmax guys probably want something a little more dramatic to bring in results. The core re-logging is necessary though because they had those problematical cores in the past and they have to go through them and get it sorted.

I don't think anyone intends to take this project through to the FS like they did with SC. My understanding is they would look for a JV partner at an early stage to pay the bills. I believe there was a lot of interest at PDAC.

Given the problems in the past work they should be able to improve the project significantly just by clearing up the mess. I don't know what stage they need to get to though before trying to find a partner.

We've been told water wasn't a problem at VD. I'm not sure how solid is that opinion. Apparently the drinking water acquifer(?) is located about 3 miles away from the mine and in a different rock formation so they're not worried about contamination. I don't really know how much water is used during the mining process. I do recall that the question the local residents were asking was, how many jobs and when?