Comparison with peers, page-23

It says the cluster of pipes is over an area 600m X 600m.  It does not say the pipe is 600m x 600m in size.  The pipes within the 600m x 600m area look to be quite small, at least from the magnetic data TNO has released.  We will only know when TNO put out a resource based upon these high grade pipes, which are very different from the main resource which has been announced.  The pipes and the vanadium resource are very different animals.