To further clarify my post.... in 2016 VM acquired a 100% interest in89claims(720 hectares) in the Paradox Basin (ULI Project) as detailed below.Since 2020, both parties are in dispute regarding the 40%earn-in and that is the reason why VM's quarterly Sedar report continues to claim non compliance. I wrote VM's MD last year regarding the 40% vs 70% issue but did not receive a response. I do agree with you regarding the Basin containing plenty (as much as 595 ppm) of Iodine. Still, the Basin Iodine production will be important because the US imports most o fits consumption.More specifically,the two top two producers are Chile(about two thirds) and Japan( about one third) while the U.S.iodine production is minuscule.
Ann: Investor Presentation - June 2023, page-86
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