Ann: Pre-Feasibility Study Completed, page-92

Well, well, well - positive announcements always brings out the good the bad and the ugly as we have seen and why i didn't bother to comment earlier - its all there for the eyes to see and we should see a de-risked approach to todays open - for those naysayers you cannot argue that the robust nature if this announcement is very valid !! ....so please for everyones sake,  get off what your on

All i can say is congrats to SH and Management team for their tireless efforts to get PFS out and on time - This shows credibility and professionalism in that they are not sitting on their hands

Results of PFS
In simple in line with what was expected and some - it shows an economically ROBUST viable project - that's all the PFS (Pre-feasibility study) is intended to achieve  - the IRR at 83% is a good number as is the payback period on finance - the grade not so good at 4.9% however the positive of this is flake size and its low strip ratios (low hanging fruit) compensates - remember you cant necessarily get everything in a resource that you may desire ie high grade TGC / shallow resource / sizable tonnage / excellent flake size - oh well 3 out of 4 aint bad

Now we move to DFS over next 6-9 months then BFS funding and decision to mine so at least we are moving in the right direction and ticking boxes - now we must show the market as we enter into DFS in 2017 we still must show the market we can enter into Binding offtake agreements not MOU's . If we can show the market this - i think this would be real turning point in price appreciation as without "Binding agreements that turn into $$$ dollars)  - its worth nothing but speculation ( taking out all the hype )

MNS Comparison
Aside from what some may say its good to draw a ruler over a competitors project so thants for all who contributed to that - as ive always stated from the beginning its a good measure for an brownfield explorer heading toward producer what their competitors assets have - also remember VRC have over a billion shares full diluted compared to MNS 300 million so we have 4 x the issued script which will dilute our EPS (Earnings per share) once we start to produce cashflow so you must factor this into the equation which no-one has mentioned in the current round of conversation

Now just remember this is (1) box ticked and there are many more hurdles to follow so its one step at a time - the path is being carved

KEY Components of a Definitive feasibility Study DFS Milestone in 6-9 months
Description – a layout of the business, the products and/or services to be offered and how they will be delivered.
Market feasibility – describes the industry, the current and future market potential, competition, sales estimations and prospective buyers.
Technical feasibility – lays out details on how a good or service will be delivered, which includes transportation, business location, technology needed, materials and labor.
Financial feasibility – a projection of the amount of funding or startup capital needed, what sources of capital can and will be used, and what kind of return can be expected on the investment.
Organizational feasibility – a definition of the corporate and legal structure of the business; this may include information about the founders, their professional background and the skills they possess necessary to get the company off the ground and keep it operational.