Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-11

I think we need a spot price above 60-65 before sentiment ramps up again and liquidity starts flowing back in. EV sub $1m is boggling but like they say money is made when you buy. With enough time in the market and some strong survey results it's not unthinkable to be 5-10x in a short period. I have been accumulating VSR since sub 2c, the economics looked similar albeit REE and lithium exposure are currently more en vogue but that moved rapidly once more folks caught onto the potential. I believe the demand for Uranium is coiling and with the geopolitical pressure mounting with what is happening in Europe the next 24 months look exciting for the sector.