re: vcn very poor management: question mark, page-4

re: for sonoftherock The BFS is due end of April, but most of these studies run a bit over time, so I'm being conservative.

The pullback in copper prices will partially reverse itself by the June quarter (although I think we are unlikely to get beyond USD 3lb for a while) - but at the monent I assume this has made things a little difficult for financing in the short term. However, Cobalt prices have strengthened 30% in the last two months and in fact the cobalt is the most significant (by value of contained metal) element in the Kylylahti Polymetalic resource.

Longer term, the resource has a high probably of growing through finding other ore body although strike a depth. The latest drill hole (assays yet to be reported) suggests that even the Wombat body is not yet closed off:

'Drilling at the lower limit of the deposit has been completed with significant visible sulphides intersected over 80 metres, assay results are expected in the New Year. This indicates the potential for significant extensions to the current Resource.'

angus