Ann: Disclosure under LR 7.1A.4(B) and 3.10.5A, page-17

Mate I'm still sorry I hurt your feelings. Since you've kept such a close eye on my you would be aware that I started raising concerns about management towards the end of last year when deadlines were continually being missed and being followed up with radio silence (about October), but held out for the AK acquisition which was heralded as the game-changer (I just didn't understand the process of acquiring such a monster!).

Since the acquisition (which went nowhere on the day of announcing), management has claimed bonuses, put us in a secondary suspension to "complete", handed out shares like candy, revealed they have no LT finance in place, and we're now 15% below the acquisition price and trending closer to the 52-wk low. But there are heaps of exciting announcements to come if you wait! Just hold up a sec while we dish out all these shares first.

Since you've been following me so closely, you would know that the secondary suspension was when I made the decision to sell and leave (which, I of course couldn't at the time), and while I'm sure you'd love to portray me as an idiot I know better than to sell into a disappointed market, especially when I agree that the MC is undervalued and the resource is a winner (my issue has always been with the management of the company, specifically communications/transparency). I also know that VEC is pumped every few months so, again, it would be stupid to sell out right now.

Don't stress yourself out worrying about me staying; I'm not. Keep your critical lens on your own investment, and despite my frustrations with management that have brewed for over 6 months, I genuinely hope yours and every other shareholders' choices pay off. But, do take a moment to look at what's been *consistent* (delays, suspensions, missed deadlines, lack of communication, AK as the goal) versus what's been changing (announcements, share issues, the last quarterly, funding arrangements etc.) and take a moment to look at who is benefiting from what (spoilers: not shareholders).

You can criticise my negative outlook from the last few months all you'd like, but I'm not the one shifting the goal posts. All I've ever advocated for is open, transparent, honest communication from management (aka no surprises). I might be overly negative for your liking, but so far the market agrees. I look forward to the day I'm wrong and you're right, so we can all crack a coldie together and say thank god we held, but I'm not hanging around for it anymore.