Ann: Mt Carbine Quarry & MLs - Sale & Purchase Agreement Update, page-64

Hi Drill King

If Russell's only option was to raise fresh equity to fund the purchase then he would have put a share raising to the existing shareholders already. It would be the easiest thing to do from a management perspective. Effectively saying, "if you want it then put up the cash". But a number of months since the agreement, there hasn't been any sign of this. This would suggest that he has other parties that are being dealt with and he isn't going to sell us out.

WLF were too keen to get the deal done and it cost them the ownership with the top 4 owning 90% (and it's still losing money) or VML who are wondering where the $$ are.

I'll pose a question to posters.

Given 95% of the world's tungsten is produced by China, Russia & Vietnam and TGN/VML has signed offtake with Chinese producer.

Has the Mt Carbine deposit become more valuable to Western interests?

Still happy to be patient