milestone ann, page-8

Hi Caldazar,

Its current assests make VMS worth much more than 50c. The way I see it there are still a few sellers scrounging around for funds to exercise their oppies. After today, T+3 settlement will make this operation less viable. Then we must expect some kind of overhang selling as some oppies will have been exercised with short term borrowings.

The 20Mt JORC will have make VMS much more attractive to instos although it would be more atrractive still if some of the resource had been uprated to "indicated" or "measured". These buyers are likely to take their time assessing the quality of VMS but I expect their presence will increase over the coming weeks and be reflected in an increasing shareprice.

As I've been writing this, the shareprice has moved back up to today's high of 47.5c. I say our company is a very good buy at this level.