Date: Jul 19, 2018

Due diligence process finds that the country’s mining regulations provide comparative advantages.

Hardey Resources Ltd (ASX:HDY) believes its proposal to reopen the Nelly Vanadium Mine in San Luis Province of Argentina can be fast-tracked owing to the country’s mining laws.

The company’s ongoing due diligence process in acquiring the mine has revealed a number of regulatory and operational comparative advantages.

These include the ability to expedite the monetising of legacy stockpiles as a direct shipping ore vanadium product then, if a JORC-compliant resource is modelled, recommence mining.

Typically, establishing a mining platform from a prospective area in most jurisdictions takes up to five years, numerous studies and material capex.

However, under Argentina’s laws, the process to reactivate a mining licence is relatively straightforward and fast.

“A comparative advantage”

Executive chairman Terence Clee said: “One of the attractive and unique features with Nelly Vanadium Mine is the potential to fast-track the commencement of mining operations and cashflow.

“This is a material comparative advantage over building up a resource from inception, which can take many years.

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