The market obviously liked the response to the ASX volume query....

The market obviously liked the response to the ASX volume query. I did too. Whether or not the directors know who has been buying and why, their response was low key and well worded. They have highlighted the possibility that the New Zealand government may be perceived by investors as more supportive of the Taranaki project than previously thought. Here are the opening two paragraphs of the reply to the query..."The Company expects that recent pronouncements by New Zealand’s newly elected coalition government, some of which were repeated in a recent interview by New Zealand Minister for Resources, the Honorable Shane Jones, may have renewed investor interest in the Company’s Taranaki VTM Project in New Zealand. Mr Jones, who is reportedly supportive of the NZ mining industry as whole (both land and maritime), stated in the interview that “the most interesting thing of the portfolio… are rare earth minerals such as vanadium”

Furthermore, the Company understands that the New Zealand government will begin a
process whereby it will “Investigate the strategic opportunities in New Zealand’s mineral
resources, including vanadium, and develop a plan to develop these opportunities”
2 and
that such initiatives may include the creation of a Critical Minerals List3 and a fast tracked
consent and permitting process for natural resource projects that are considered by the
government to be of “national significance4"

The share price once again closed on the high of the day. It has now doubled in 2 weeks, on high volume. It seems obvious to me that someone has been aggressively accumulating, and I don't believe that this a short term pump and dump. And it's run up has obviously attracted attention as witnessed by the ASX query. The director's response has focused on the Taranaki project, which has the potential to provide further support for to the share price if the New Zealand government continues to indicate that it may have an interest in seeing this project progress. This morning's 4.5% gain in silver prices might provide some additional support to see further SP gains.