Ann: High Quality Concentrates Produced and JORC Resource Upgrade-VRC.AX, page-54

Buy on rumour sell on fact has been delivered.

However, for those of us here for the longer haul (not traders) the news today at least confirms that VRC has a viable product. Moreover, let us not forget that macro factors are hugely favourable as we are going through a structural change toward less polluting electric cars.

The management team is first rate and they have delivered on phase I of this journey, now they need to go and sell a high quality product to a market place with accelerating demand. In due course, the product will no doubt go through further fine-tuning and we should see some offtake agreements flowing through and finance deals to get production up and running.

The most exciting thing, however, is that with VRC looking increasingly like the younger sibling of MNS then we are hopefully shareholders in a company that has an NPV in excess of US$1bn at least if you subscribe to MNS valuation (which the market seems to accept). The valuation for MNS is at this link - http://magnis.com.au/article.php?id=136

Today's pullback was a welcome move to top up my position a touch more in anticipation of further positive newsflow ahead.