1st announcenent not good 2nd good, page-39

I'm out.

I agree partly with blythefan's comments.

Certainly this is a setback but it is still possible Kylylahti may get over the line with more drilling and an improved DFS. However it seems less certain now and therefore you would have to say risk is increased. Could still pay off in the end. Copper prices are looking pretty strong in the long term I believe.

The capital raising was clearly also to fund Kumho drilling. This was stated, as well as to fund the DFS and Kylylahti - I remember they were going to order 'long lead-time equipment' for the mine/processing. This was a few months ago and to be fair the DFS was probably nowhere near completion.

Because the risk is clearly increased by yet another delay to the DFS, I've sold out. I am not saying that an investment in VCN won't pay off, just that there will be a further delay and the risk is increased.

Whilst Kumho would appear to be lower cost, I don't believe it will be 100% certain either due to various concerns.

Best of luck to all holders.