Ann: Change in substantial holding from VAR,VAR-SCI.AX, page-3

Marketinfo,

Variscan who reduced their holdings in SCI are down to less than $500,000 cash 31st March and it is more than likely that by May raising cash was key. Cashing out 1/2 of their shareholding at an elevated price than the 12 month average would have been a good decision I would think. Like SCI they are protecting a relatively small book of shares so not to dilute shareholders. Long term minded. They are 300 million plus, SCI only 100 million plus.

SCI will build from here I think. Still adding to holding and waiting for moves higher in ZINC, SILVER and checking out their findings from Lithium work this month… Plenty of upwards drivers here. They have a very fortuitous mix of materials I would suggest for the times we are living in right now.

Never underestimate the role LUCK plays in investment and business outcomes.

JFI