Ann: Quarterly Activities Report , page-4

What I've wanted to see:

(1) reinforcement of the reportedly world class vanadium project being the main play
(2) ongoing definition and expansion of this resource, recovery processes, costings and project licences
(3) a change in focus from a premature sale/divestment of this project to one where shareholders can retain significant exposure to the exciting potential use of vanadium in new battery technology (why I'm here)
(4) copper and other projects explored but with an eye on preserving capital / funds for the main play unless significant results here change the state of play (bonus in my view)

Am I correct in detecting a change back towards this orientation from the quarterly? Particualrly with more emphasis on strategic investment than sale? If so I believe we're heading in the right direction.

Note we'll be attending the Mines and Money Beijing (June 2011) for follow up meetings with interested parties.

I'm happy to accumulate at low levels and hold in wait like Cornwall and others.