Ann: Quarterly Activities and Cash Flow Report, page-34

Shipping and transport delays are common these days with the ongoing pandemic. It can also delay revenue. VML/REEtec pricing agreement. The margin results from the actual sales price achieved by REEtec less the combined guaranteed minimum payments and transportation costs for both Vital Metals and REEtec. Remember we are in a pandemic. 1000 bags delivered to Saskatoon for processing and then to REEtec for further processing and then onsold. From Saskatoon to Bank Account. I think we might get a surprise how long this process will take with the current delays. As far as a CR goes, I can't think of any mining Co. that has gone from pilot/demonstration plant to full commercial production without a capital injection. gltah