Ann: Quarterly Activities and Cashflow Reports, page-6

When I first devided to take a significant core position in VAR I worked on a 8 mill tonne resource target at 7 pct grade based the vendors bonus triggers in place. A Reocin little bro.

And u would remember me scratching my head in here MAP when there seemed to be a constant supplier of cheap stock, given the early results suggested we were on target.

Being a why not bloke it made me feel that maybe the vendors were confident of those targets being met and such a bonus might take them over the compulsory acquisition limit, so they may have been balancing out in advance to avoid such embarrassment haha.

I can now see where the Reocin twin call comes from, and all I can say is, this is one u may be able to write your own ticket with on how much u want to make.

Lets just say if we are now talking probability of say, 20 mill tonnes at 8 pct equiv Zn at current usd 3000 / tonne, we are aiming for a usd 5 bill buck IGV with all the boxes ticked.

I dont think some minor project finance to provide crushed rock to the smelter down the road is going to be a problem MAP haha.

Keeping it simple, U know my EW3 tech target mid term is around the 30c rim of a 5 year cup if u follow eary posts. And assuming SOI post vendors bonus plus a few extras might be around 350 mill shares say, my "cup rim" would represent a modest 100 mill market cap.

That's way too cheap if our exploration target at the lower end evolves as a resource.

So yeah, let's just say I have great expectation re how this is going to reward the true value seekers in the mid term. I stick to my MO if substantial core hold and follow thru with further trading parcels once the pivotal triggers are taken out. Methinks the next one is 3.3+

Lets hope the global economy remains stable and our Cap'n steers a steady conservative course. We might have enough cash to bring home a maiden resource at San Jose mine, and start planning some early cashflow to keep our register tight. Could be talking cents to bucks here if that 9 km strike proves up.

OWEP

Good luck bros.