Ann: Globally Significant Maiden MRE for Colossus IAC Project, page-286

sovereign risk rising? Brazil? Why has it changed now vs 6 months ago.

better Ree options elsewhere? Of course Vmm is still proving up its thesis of being amongst the lowest cost producer. This thesis has definitely not diminished based on the MRE and drilling updates. Now are there better options - based on valuation and progress - I would challenge that because we have a stock that is valued at about 80 mil given the progress it has had. Of course there are other risk reward plays at various stages. However, with the exception of MEI, the rest of the non Chinese IAC deposits are not feasible or comparable to Vmm’s potential. The other benefit for Vmm it can benefit immensely from the progress of MEI in regards to metallurgical testwork and flowprocess. Further the scoping study of MEI will give insight into the planning of Vmm.
unlikely to get funding? - how do you come to this conclusion. Every stock at this point will not get funding which would require a BFS or something similar. Why would we even contemplate funding when Vmm has not even produced a scoping study which is a low probability study anyway.