Despite the galloping Vanadium price It has been a very...

Despite the galloping Vanadium price It has been a very disappointing time for SOME shareholderssince the placement to raise $6mill through Patterson stockbrokers…theirclients and not necessarily in control of the company for which they get 6%.Unfortunately there is no performance fee of arrangement to how successful theyare in progressing the companies after placement share price.

So this has resulted in some investigation of who gotem andhas flipped IMHO over 1mil for less than 1c

From my experience and chat around brokers I haveestablished that 1 fund has done just this..I have confirmed this but cannotname the fund. I an only suspect that due to redemptions (sic) the fund wasrequired to sell…so TMT and others were sold despite the rosey position goingforward and despite V price simply up and up and no real short,medium termreduction.

Pattersons would not be  happy..NOR are weshareholders.

In future the company should have more control on placeesand negotiate the fee that guarantees better long term benefits. When theplacement was made the price was high 50’s for it to be sub 50’s..some 20% issimply pathetic job by the engaged broker…at the time it was greatlyoversubscribed…no excuses. Vanadium stocks are the darling at present.

The good news is that us small shareholder have undergonesome short term heartache but its fortunes for the brave. One working thenumbers could expect there is not many left in this fund. It is expected tobounce sooner than later.

The amusing part is that IP has completed visit to HK andimmediate follow up to china both funders and offtakers. I expect within 2-3days we will get drill results..more detailed resource/reserve/leading to lowercosts. All this will make the forthcoming AGM a fascination meeting  I forone will be there. Here’s hoping advances on offtake MOU .mine fundingtalks .Iam sure IP wont disapoint.