Ann: CEO Update, page-21

Peliatan, amongst your avalanche of negative posts about VRC, you have stated some truths that many of us investors are not happy with. That is the timelines for getting things done! Some of this is out of VRC's control, like the granting of the mining licence etc.

Well, the sp for the company could be in the range of 10c to 60c in 2 years time, who jolly well knows? My pricing was based on Syrahs' sp high of $6.60. If you don't like my guesstimates I don't really care. I am hopeful of the sp getting to 30c, that is my target sp! Which is dependent on VRC actually becoming a successful mining company.

I have contacted management before and what are they going to say anyway? They are going to tell me that all is going well etc. I've been in spec stocks where management and their stockbrokers tell you how wonderful the company is going, right up until the time it goes bankrupt! So my confidence in what management tell the pleb shareholders like me, is not high. But some of the larger shareholders may be privvy to better intel than I get.

You ask, what has the company achieved over the last 9 months? Again I am not close enough to the company to really know, but things have progressed much, much slower than expected. What has annoyed me is that the company has announced a number of times, or hinted at, events happening over a short time span and then they haven't happened! This false hope does effect investors' buying, selling or holding of the stock, whilst waiting for these events to happen, and then they don't!

At one stage it looked like the $40m would be available by the end of February! Wrong! Now when, and if, it will be secured is still unknown?

I'd like to see the quote about me having a "dirty weekend away with the missus?" I can't remember stating that and I don't believe it was me who stated that????

Even at 7c like Edison has quoted, or perhaps 10c, I would be sitting on a nice profit. The mining licence and the funding are the keys to the success of the company. If they can be achieved then the sp will be much higher! And that is why I continue to hold the stock.

So the sp has had a bit of stability after TM's speech, but what happens in another week, 2 weeks or 12 weeks time without any mining licence or funding to announce? There isn't much other good news to hold the sp up, only the faith of the true believers in the stock. So I can envisage the sp going lower than 2.8c, but just how low is the question? Of course this frustrates me just like it does a lot of shareholders!

So yes, some of you negative posts about VRC have valid criticisms, yet you still hold the stock? Your attacks on management are becoming more severe and verge on being libelous? And why do you post the same negative sentiments up to 5 times a day? And why do you feel the obsessive need to reply to every single person who posts a comment here? You state your same negative views over and over again???

VRC is a Graphite company becalmed in its progress by the slowness of the Tanzanian Government’s procedures. But it is certainly not alone in this regard. There are plenty of other stocks in the same boat. TM and the board appear to have a sound strategy for the progress of the company, the raising of the funds needed and the progression to stage 1 and stage 2 of mining. Their strategies do appear to be superior to some the other Graphite stocks. They just jolly well need to make it happen and as jolly well soon as possible!!!