Ann: Quarterly Activities Report & Appendix 5B, page-24

The under explored extent of the vanadium deposit will be interesting. Nelly also has numerous polymetallic
deposits as well. Its the fruit salad in the mining world. Having, power, water, labour nearby a rail network, Nelly mine has infrastructure to key ports.Well it seems a very viable project with all services & not in the middle of bugf#ck.I think Krc's low grade V & scoping studies viability costs to mine was overlooked. HDY is in a great position.