Ann: Bolivian Tin Asset to be Rationalised, page-5

Here is a head start:

Bolivian tin asset to be rationalised
Highlights
 The Board has reviewed the Bolivian tin operation thoroughly and determined, with the
strategic reorientation towards NSW/WA cobalt-scandium assets, it will be rationalised
 Whilst the Bolivian tin operation has solid fundamentals, its geographic proximity to
Australia, where VIC’s six other projects are located, was a material deciding factor in
classifying it a non-core asset
 With immediate effect, all current budgeted CAPEX and OPEX will be suspended and the
operation placed in caretaker mode and a financial advisor will be appointed as soon as
practical to market the project to prospective third parties
 An updated progress report on recent exploration activities has been prepared, which
includes discussions on the following:
 Findings from a recently completed drilling and sampling program highlight tin can be
extracted at comparatively low costs (using gravity / flotation processes) from the
Arenas Catavi, Kenko and sink/float ore tail sites
 Results from the drilling program were solid ranging from 0.11% up to 0.91% Sn
 All the ground work to commence reserve modelling and metallurgical test-work
programs have been put in place and straight forward to reactivate – this was done to
determine the optimal ore process engineering pathway based upon reserve estimates
Non-Executive Chairman Dr James Ellingford commented: “With the Board’s efforts now firmly
channelled into our recently acquired cobalt-scandium assets in NSW/WA, the decision has been
taken to rationalise the Bolivian tin project. With immediate effect, the operation will be placed in
caretaker mode, CAPEX/OPEX budgets suspended and a financial advisor will be appointed to market
the project to prospective third parties. The Board believes rationalising the Bolivian tin operation
and focusing on the cobalt and scandium assets in Australia will create incremental value for
shareholders over the longer-term.”
Victory Mines Limited (ASX: VIC) (“Victory” or “the Company”) has determined the Company’s core
focus will be on exploration at the newly acquired cobalt and scandium projects in NSW & WA,
together with reviewing its other assets.
An updated progress report on the Bolivian project follows, and formed the basis for the decision to
rationalise it.

Obviously, rationalising is "selling", and this is particularly good for holders.