vpe reporting, page-10

I expect resource. But the way the share price of ITC & VPE for that matter are trading I think a low ball bid at 8-9 cents could come out at any momment. That's a $56,000,000 & 63,000,000 market cap at 8 & 9 cents.
That would allow the bidder to boast about giving a 30-40% premium to holders based on the last trading price. Alot like what just happened with the UMC-BHP bid recently.
A bid will come prior to ITC-VPE embarking on their next significant drilling campaign imho.