Ann: Response to ASX Appendix 5B Query, page-65

Thought I'd pop back in for a ' look see' on VIC.... Not quite ready to jump back in ATM either.

As mentioned in an earlier post , and the main concern for me was the fact that in the absence of an Escrow agreement with Cobalt Prospecting and the virtual 1/3 expansion to the Share Capital.

What happens next with respect to a pending CR is the real concern for me now. One only has to look around at our neighbors and their cash spent on similar tenements or indeed any spec miner with multiple drilling aspirations - $ 2,500,000 bucks does not get you a whole heck of a lot. These are big tenements in ' Area Size as well. So IMO , a lot of luck and/ or the best mining expertise available has to be applied in finding the resource at times. Then we have to do more drilling to prove up the depth and directions ....and ultimately defining a JORC. So what another 500,000,000 shares placed or write's offered at .005 cents ? Maybe a consolidation would be best first IMO. At least then they could raise potentially more funds at an adjusted higher level.

Financial Engineering I believe its called. Perhaps this largely explains the SP weakness we have been seeing in the absence of any changes in substantial holders notices ? This is definitely at the point where you either really back yourself or indeed bolt........Good thing I only have to choose one of those options .....