Ann: Riley Iron Ore Mine Update, page-143

• all those things have been well after Riley was in production. The two and a half year delay of what was touted as a shovel ready two year project cost tens of millions. The project should have been producing 1mt per year, 6 months to production would be what i would describe as shovel ready. 1 year slow but still would have made tens of millions. 2 and a half years VMS missed the boat.
• The point being this was VMSs chance and the BOD failed to deliver with no communication during the process no explanation and no review on failure, despite saying otherwise. I cant see how anything has changed, the BOD have learned nothing. No communication no explanation and very little achievement.