The decision was a direct outcome of the results received last week from a positive scoping study that highlighted a shallow, open-pit, high-grade resource with a low strip ratio.
There are three principal work streams to be undertaken in the short term to progress the PFS to completion.
Firstly, process de-risking which will involve scaling up the treatment process to a mini-pilot plant, which will be done independently.
Secondly, process design and infrastructure which will be supported by metallurgical test work.
Thirdly, mine planning which will be supported by geotechnical and rock mechanics studies for pit design and production scheduling, eventually to generate an ore reserve estimate.
Drill programs also planned
While the Berenguela Central deposit is the focus of the PFS, Valor intends to progress its valuable exploration targets which include Corona, Corona West and Berenguela Deeps.
The 2018 drilling program has been redesigned so that the core focus is on the PFS but around 1,000 metres will still be drilled to provide core samples for test work.
New executive director appointed
Dr Nicholas Lindsay has been appointed to the company's board as an executive technical director.
Dr Lindsay has been instrumental in the finalisation of the recent scoping study and the structuring of the immediate technical plans.
Additionally, as part of the company's commitment to efficiencies, the board has taken 25-50% fee reductions for this financial year.