Ann: New High Grade Vanadium Pentoxide Route, page-58

Would be nice wouldn't it? When ever they happen to achieve a result of over 99.5% purity, we are going substantially higher. The price of getting 99.5% V triples anything below... throw in the fact that the price for 98% continues to climb every day, we are at all time highs and have been for a couple weeks and we continue to climb. This all bodes well for a company that has the largest deposit with low strip ratio, has doubled the tonnage per annum estimate and looks to have found a way of getting the purity up with lower cost than the previous. Any announcement of our V is going to be very well received indeed and let's not forget that since we got to 19c a few months back we have doubled our tonnage per annum estimate, have come up with a lower cost of extracting the V, we have a gold situation at Mt Remarkable that continues to delivery ridiculous results that we are continuing to drill for the next few months, have a scoping and concept study due this quarter and we get 1/3 of our holdings in bonus options with a strike price of 12c in 2 years time. Will only be a matter of time before we break clean through the 10.5, 11c, 11.5 barriers and we find a nice new level in the low-mid teens. At these levels with everything mentioned above and at least $8 million in the bank now.. not sure how many more options were exercised we will find that out shortly, we are seriously undervalued.