Ann: Surface sampling at Chuatsa Vanadium Project, page-12

But the question must be will the tide turn in 6/12/18 months and is there enough potential to dig in to a 30% interest by issuing 25 million shares which will be an addition of only 5.5% of the current SOI for both assets. The options that remain only turn into shares if we are looking to surpass 2.5c which is hell of a lot higher than our current range of 0.7-1 cent.

Day traders and very short-term (a few weeks) investors are of no concern to any self-respecting BOD.

It is stages 2 and 3 where it gets more expensive for us - but those numbers depend on the SI6 VWAP at that time, and the project value based on an independent valuation report respectively.