Ann: VTEM Drilling Complete. Rig Moves to Calvert South Prospect, page-18

It has been awfully quiet over here lately, hopefully the longer term holders are still here and haven’t looked at the share price lately. I actually decided to buy more stock here today (what was I thinking, I know!) We are almost close to 50% down from our most recent capital raise which is incredible.

The macro conditions have been tough lately (general stock market declines, rising interest rates and overall negative sentiment, not to mention a falling copper price to go with it) but I am willing to stick it out especially to see the next set of results which should be due out in October. September historically is one of the worst months of the stock market so keep that in mind as well.

People may think I am crazy but I have managed to reduce my buy in price to 0.023 cents so I am content moving forward. Regardless of your buy in price, if it goes to zero you still have lost all your money but I am looking more from the upside potential. The lower I can buy in, the greater my potential upside. In my opinion, I don’t think we can fall too much further here, that is unless we have zero copper in the next set of results. It is close to a 10 mil market cap at the moment.

I am building my investment positions in copper now, as I buy when there is no good news and overall fear in the markets. Copper price has fallen significantly due to fears of recession, as copper is considered the barometer for the economy. When economies are growing, then copper price tends to rise, when economies are going backwards the copper price generally follows suit. Copper is a long term play for me so not concerned around the short term potential for negative GDP growth. Capitalism is designed for economies to grow more than they retract so probability is in the investors favour who invests for the long term.

We have amassed a land holding of 13,184 km squared in a very prospective area. Surely, we can find an economic deposit in that much fertile ground!

We also have 100 million in tax losses, which is worth something to someone. That is the equivalent of 30 million of future tax savings. There would be plenty of interest in taking over this company if nothing eventuates here. I would even buy it for the right price!

All the best everyone, cheers CP.