Ann: EPA approves ESD and sets timetable for Arrowsmith North, page-119

Well I for one have no appetite for more shares (dilution).

The *only* good thing I can say about the BOD deal with the Germans is they didn't dilute us the way they did other targets.

Having said that, until it's demonstrated otherwise, I still view the capitulation to Delphi et al as the most self interested move VRX management have made. Seriously; can anyone actually nominate something positive that deal delivered for us, the great unwashed? They sold a large % of the SOI off market in order to fund their own option conversions; the other 1452 shareholders here did not benefit one iota - in fact there is a strong argument the share price would have been elevated had the Germans had to buy on the ASX.

In the long term (hopefully) it won't matter, but it certainly torpedoed 75% of my plan to finance heads by selling options, and so I hold more heads now than I planned. In the long run, that will hopefully be a good thing...

My hope is that having had the balls not to dilute before now, the BOD keep the titanium gonads through to first production.

DYOR - bring the receipts - GLTAH