Ann: Acquisition of Victory Bore Vanadium Tenement, page-23

Agreed. Our resource is fairly good now with Victory Bore on board.

Unaly Hill, in my view, was not good enough to warrant a development alone as it didn't have the resource tonnage nor grade advantage. Now with Victory Bore, we will have good tonnage potential - up to ~400mt imo once more drilling. Our grades are average but should be very economic still I believe.

Today's SP performance was underwhelming. But looking at the trading volume, a high majority of all trades were on Chi-X - which I suspect is indicative of Pershings selling again. Since Pershings does the clearing for CPS Capital, I suspect todays heavy selling was a result of CPS dumping their leftover underwriting shares.

Not sure how many shares CPS still plans to offload but it won't be much more I suspect. Them selling is very annoying but can't blame them - its just what happens in the broker underwriting business.

More patience is required. Our vanadium assets are very good and being derisked. More infill drilling and PFS next? By that time, everyone who wants to sell would've sold. Kooline - more exploration please!