Ann: Uley Graphite Grade Increases to 11.7%, page-53

While it's good to have things moving along quickly the pace of development isn't my main worry with the company. VXL seems chronically unable to work out a realistic timeframe and stick to it. Take the regulatory approval, if the company had said it would be idone by Xmas i'd be fine with that. If it then delivered it earlier I'd be saying what a great company it is. But for the company to say it would be complete weeks ago, not deliver and say absolutely nothing is concerning. And isn't this the pattern with every milestone? Turning to really important milestones, like the BFS, will it be delivered this year? It's already been delayed twice, so who knows? It's this pattern of over promising and under delivering that erodes investor confidence and destroys the value of our shares.