Ann: Developing the world class Caula Vanadium Graphite Project, page-78

Yes the resource MUS has is very good, the problem is going to be how to raise the funds to develop it. I am sure the scoping study will come back very positive, but I can't see anyway they can raise the large amount of money to develop the resource given the history of the board. Go and look at SYR and BAT and see how hard it has been for them without this baggage.

The best scenario is a JV or takeover. The problem for the shareholders is Regius Resources owns a whole lot of land right next door to Mustang which in the event of a takeover the shareholders could end up getting a deal similar to what happened with Fura.