Ann: High Grade Vanadium Mineralisation Confirmed at Airijoki, page-28

taking profits at 6c. (entry 3.7c av)

covers my HDY loss.

I think the market is consolidating the 6c area, because of the fear that resides over the concentrates with Koit.

The company need to explain, how it will go about economically treating the bulk tonnage.

Mass recoveries, i have come to better understanding, is like, how much magnetite is in the host rock.

If we have say 5% magnetite in the host rock, we crush, grind, separate, then proceed with say gravity separation, to produce just a magnetite stockpile. This is then put through a concentration loop to deliver the high grade concentrate.

The question that the scoping needs to answer, is what is the cost of this processing?

I have taken a conservative position to take profits, if Airijoki's concentrates come out with the 2-5% which koit has.

Good intersections so far, (in overall size) but the economics of how much rock we have to blast and crush is starting to trouble me.