The president and other important executives of Valmie Resources Inc (OTCBB:VMRI) were in attendance as the FAA announced a milestone association with CNN and others to assist the agency decide and know of the measures to safely expand UAV operations in the United States.
The FAA termed the program as “Pathfinder” and the agency provided details of the program during a panel session at the recently held AUVSI Unmanned Systems Conference 2015, the country’s largest UAV event. Under the program, the agency will associate with CNN and others to know about using drones for information collection in urban situations within operator’s line of sight. There are two other participants in the key program BNSF Railway and PrecisionHawk who will work on research around UAV’s and also on extended visual line of sight activities in rural areas.
Gerald B. Hammack, who is the President and CEO of Valmie Resources Inc (OTCBB:VMRI), said that they appreciate the agency for answering to thousands of UAV enthusiast and operators who challenged the projected set of regulations for marketable drone flights. The program commences to define the groundwork for performing critical operations like precision agriculture, rescue and several other humanitarian applications. Valmie Resources is optimistic the agency will consider extending Pathfinder beyond three firms and streamlining the application procedure so development can take place at a rapid pace.
The announcement seems to solve some of the severe criticisms from among over 4,000 public comments, primarily made from drone advocates and operators after the FAA reported its projected set of regulations for commercial drone operations last February. It also resolved the need to be permitted to safely perform activities beyond visual line of sight.
In last trading session, the stock price of Valmie gained more than 16% to close the trading session at $1.58. The gains came at a share volume of 228,144 compared to average share volume of 70,585.