news to be released better be good, page-5

In my opinion, the selling pressure is far more likely the result of the placement to "sophisticated" investore at 10c with the free option deal. Unless there is some good news quite quickly, these investors will typically sell their placement for a quick profit. This is even more likely when they have free options.

A better option, imo, would have been a renouncable rights issue to existing shareholders. The sp at the time was 14c; after it had looked to be holding at 15c - 15.5c, as big players had been placing orders at those figures daily. Loyal shareholders could have been rewarded by either buying the placement at 10c or selling their entitlement at 4c. They, knowing the value of the vanadium holding would then have been less likely to dump the shares - which has imo, happened by these sophisticated investors.

I still believe that the resource upgrade will be 195 mT. Even if there is nop upgrade to the Main Zone, the Hanging Wall Zone is 65% of the volume of the Main Zone. So, adding that content on to the present resource of 90 mT must be a minimum of 150 mT.