Ann: Company Update, page-17

You know one of the things that is missing from the recent update on the 9th (yesterday) is in fact an important update.

If we go back to the announcement dated 11th December there was a section towards the end which spoke in glowing terms of the Board's decision to actually undertake some mining. And to save you going to search for it here is the relevant section : -

" The objective of the first phase of the drilling campaign is to commence with three AC/RC bore-holes in the Malamute project first and follow up with one AC/RC bore-holes in the Husky project. However, the order of the drilling campaign may vary depending on the field results.

The Board anticipates that the drilling campaign will commence before the festive season gets underway and will update shareholders as the drilling campaign unfolds. "

Now you would think that there would have been some comment made about that anticipated campaign. I mean if it was to start before the festive season got underway then there ought to be progress to comment on by yesterday. Eiother that the 4 hole campaign was complete by now or was half way through or that the first hole was being drilled or..... that no progress has happened because of whatever reason.

But no. An official announcement is made giving an indication of a starting date (albeit vaguely) and a month passes and there is no comment when the Board decides to put out an update announcement. No comment whatsoever about a fairly significant development for VIC considering its lack of effort to drill anything in Australia for several years. Not good enough. Is that another black mark that the ASX will note down.