It would seem that Bruno Ruggiero already has 646,642 shares in...

It would seem that Bruno Ruggiero already has 646,642 shares in VXL, thus he may be well motivated to ensure that we get something for the shares we held prior to the current debacle. I feel we will be lucky to get the 1c per shares that was offered in the proposed RI which never materialized. Be good the see their plans but the sought of money (~$40m) envisaged by Robert Mencal is clearly unrealistic and I hope that a staged approach (i.e minimal vertical grinders (one initially) and screening) and about $3m working capital as the initial capex. Throughput of about 13T/shift (on spec) at single shift 5 days/week operation should be confirmed before gearing up to more shifts and weekend working. Bagging and other potential bottlenecks will highlighted during this "pilot" period and compensated (in the short term) by working overtime (i.e no point in staffing/training for 24/7 operation when physical constraints may still be apparent). I will also be interested to see if the company intends to use stockpiles since 1993 records show that these stockpiles may contain impurities that make achievement of "on spec" product difficult to achieve with the required throughput.