announcement out, page-8

Hi Chops,

I share your frustration with the re-trace of the share price like any holder in VRE.
We where just starting to run till this placement spoiled our fun.
Dilution is never a good thing but a necessary evil for a growing company short of cash.

The good thing out of this is the fact that there will be no more capital raisings in the near future as the income from the gold and Nickel will pay its way.

For those who feel the dilution is not acceptable I advise to add some more shares to your portfolio paying the same 40 cts as the placement.

We should be up and running once again with more good news coming especally when the ramp up of the gold production goes as planned.

The new Nickel exploration results will do the rest imho.

jojo