snapshot comparison, page-12

Hey Guys,

I personally think that the current holding of Vanadium is actually worth a lot more than presently valued. Without this asset the GPN group would be worth very little as they do not have any other proven resources.

I did want to point out that it is drawing a massive bow to suggest that Gab will prove up 100 million tonnes through the latest drilling. Your comment does not take into account the difference between material, indicated and inferred within the JORC either.

Take a look at CDU who have been drilling non-stop with 3 RC drills and 2 diamond drills (not all there for whole time) for roughly 12 months now. They have not proven up their JORC yet but lets just assume they go from 25 million tonnes to 100 million tonnes (more than likely more).

Now compare all this drilling to that at Gab which was 3 weeks with 1 RC drill. How could they possible prove a resource 3 times bigger than the current size in that amount of time?

Now I do undertstand that CDU is more spread out and is in more of a hit and miss approach than YRR. But 100m tonnes seems very, very optimistic from this program. Note I am not saying the resource isn't there but just do not think this drilling program will prove it.

Anyway at best I think they will prove the resource up another 20m to 30m tonnes at an inferred value. I think that is (overly)optimistic anyway.

I am not expert but with history as a guide this drilling program is nothing more than a token effort. 1 drill for 3 weeks.

I would actually like to read Sandy's comment specifically on the drilling program. I realise you have experience and follow CDU. Assuming that YRR had large resources what is the best they could hope to prove in such a short drilling program?

Good luck guys

I am the Iceman!