Ann: Company Update through Proactive Investors, page-13

I see that TMT is in a trading halt as well with a resource update. Hope it's goes well for them. I was told that they had covered most of their property with the JORC they had in hand. Looks like that might not be true now. What's good for them is good for us IMHO so hope this announcement is great.

For those who are sticklers with the numbers, I'd love to hear the comparisons of each of our deposits "size wise" both now and maybe after another year or two drilling. It will also show who's keeping track ;-) I'm not interested anymore in potential and what hasn't been drilled. These two companies have been around long enough to have drilled everything and anything needed to get the project off the ground! At the moment I have TMT at @13,000 TPA for 13yrs and AVL at just over 10,000 TPA for 17yrs. Looks pretty close to me!! Would most agree with that??? I must admit, considering the size of each property, these numbers were not what I originally expected as TMT is valued at $20 million and we're at $40 million. Still a joke (on the low side for both) as far as I'm concerned.

I say buy the two for $100 million (keep the change) and build a huge plant. Put it this way, say a company invested $500 million for both companies and one huge plant. Based on just a bit more than today's JORC numbers and life of mine estimates, the sales figures at $15 a pound for vanadium would be $850,000,000 per annum for about 17 years based on my rough numbers of 25 TPA of V2O5! Oh, and that's if nothing more is found on either property.

You wonder why an Elon Musk type doesn't just walk in and take the whole thing if nothing more than to lock up the large battery market and keep his lithium for the smaller sized stuff. A combined AVL & TMT must be close to the biggest resource out there no?? If I only had those funds hiding somewhere in my couch!! On the other hand interesting to see our share price getting hammered on so little volume hhhhmmmmmmm. Maybe I'm not the only one with this idea God forbid!!

Anyway, back to reality. I'd sure appreciate someone making sure my numbers are somewhat accurate. Good luck to the guys next door. This sector needs something that's for sure.