$130 million reasons, page-6

Much appreciated to you both Plough and Psi81.

The dimensions you refer to Plough certainly suggest the ore bodies are hardly "skinny".

I do have the Scheme Document Psi81, being a shareholder. To be expected, its a very detailed document, and by asking those questions of you I was hoping I might find a shortcut to decide whether you had some insight that suggested its better for me to consider your inside knowledge rather than me undertake that next step, which will be a daunting task, and of course not knowing each project intimately I will be going blind with some key assumptions that could impact the outcome of the valuations.

From my reading of the Scheme document both companies actually put at risk considerable tax benefits (relative to the individual project returns) and so the argument of merging comes down to one of benefitting VCN in terms of size and URL in terms of having a possibly easier way to get financing away. I may have interpreted it incorrectly.

IF VCN was not to merge I certainly would be interested to buy more shares, knowing its now got the plant, albeit it needs refurbishing.

If the merger goes ahead I may still buy more shares.