Ann: Company Update, page-19

Hi pc3. Good work and congratulations for your work so far. I have one small disagreement with your post. I am not sure that it's a given that if HDY satisfy the ASX with what is put in place/agreed as a way forward that then that means VIC is also off the ASX radar. It may well be that the ASX will want to grill VIC a bit more and seek some changes with this company as well. Maybe or maybe not. Just an impression I have got.

I think so far as what you are proposing there is a benefit in setting it up and seeking support from shareholders so that if there is an urgent need to beef it up shareholders have the opportunity to really join in bigger numbers.

At the moment there is sense of wait and see pervading the VIC forum. Certainly the HDY group have got up and momentum there has given them a very solid group. I sense that here at VIC that same annoyance is lurking beneath the surface and just needs a bit more push to get the ball rolling. Holding things back a bit is that uncertainty over what is going on with the ASX looking at what the HDY BOD has proposed. Of course the reluctance of the HDY BOD to reveal to their shareholders the details of what has been to the ASX is hindering a full and frank view of what is going on. Here at VIC I think we are busy looking over the fence at HDY and thinking should we follow their lead or not and waiting to see what the ASX response will be. We are in No Man's Land in this battle. Do we join the charge or not ?