Congratulations to VRC for WESTERN BINDING OFFTAKE, page-80

Goodoil,

IMO its amazing that you sit there and lecture to the point of saying you've tried to educate me with no avail.

However I did say that knowing how the VRC marketing machine works I believed they would come out with a deal "to be the first" and looks as though I was right. IMO the deal smells badly but anyway it is a deal at this stage according to what has been announced as it stands today. IMO though in 5 years time we will look back and see what revenue it has generated and it may be a different story.

I have also said this company needs a consolidation because no institution (particularly in the US) will touch it with 1.3 billion shares and options on issue trading at 4 cents.

Well thanks for confirming that also. You continually have reminded all on this forum that you have a line in to Steven Hunt and the night before this off take announcement said that an announcement is coming so there it is everyone, a 10 for 1 consolidation is on the way. IMO I think that it is prudent to do so but if I was a trader I'd have reservations about buying the stock now then. Consolidations and "hot money" usually don't go that well together.

You never know, next thing you know you'll be talking about the board undertaking a "prudent capital raising" which I have spoken about since the last quarterly but you in particular have shouted me down on saying "they don't need money".

The company is clearly low on funds and IMO needs to raise capital before the release of the next quarterly and this deal conveniently IMO fits the time frame well. You can't sell the expansion story on one hand, going to BFS, signing off takes but then go down the path that you suggest of "cutting expenditure". IMO that does not work.

BTW, a consolidation isn't going to bring the funds in from the US either. I've told you I lived there and worked in those circles. There's a lot more work that needs to be done IMO like the company understanding the deposit and first stage completing a BFS before that happens.