Raising, page-6

G'day treasurehunter,

Patience! LOL - I've been described as many things, but only rarely as being patient. Thank you.

I''ll declare why I've been buying WVN:

1. It is probably one of the most cost effective entries to a vanadium play on the ASX, with a market capitalisation of circa $7 million at 1.8 cents and net cash of $1.4 million.

2. WVN owns Mining Licence M58/272 which lies immediately north of the Atlantic operated vanadium mine. 'As a result of its strategic location, the Directors believe that it is in the Company’s interests to conduct exploration activities on the Windimurra Tenement with a view to determining whether or not an economic resource exists. In the event that an economic resource is defined on the Windimurra Tenement, the Company will consider the possibility of processing the ore at the Windimurra Vanadium Mine and/or selling the ore to the owners of the Windimurra Vanadium Mine on a mine gate sale basis.'



3. A $150,000 exploration program to determine vanadium resources on the block is about to begin.

4. WVM has an option over a massive HMS / REE Sri Lankan project, which may imminently be exercised. Upon exercise, a $150,000 exploration program is scheduled in the upcoming months. 'The Sri Lankan Project spans approximately 14% of Sri Lanka’s entire coastline. Previous auger drilling has been conducted on parts of the Sri Lankan Project which has identified the existence of heavy mineral enrichment and the potential for high grade mineral sands resources. There is potential for the auger drilling to enable a JORC resource calculation and, therefore, it is expected that limited further exploration is required to achieve this outcome.'

5. The directors are actively assessing other projects. I can't say with any certainty there may be imminent developments on this front, but if it were the case, I would anticipate speculation to be a price driver and any deal would have to be compelling.


So in summary, $7 million market cap, $1.4 million cash, exploration activities about to commence, potential for direct vanadium ore mine gate sales, a large, near JORC standard Sri Lankan mineral sands project and acquisitions firmly on the minds of directors.