RRS

I was able to attend the recent Resources Rising Stars recently on the Gold Coast and just wanted to give you a quick overview of my thoughts.

First and foremost what Brian and Vince don't know about geology probably isn't worth knowing.They had plenty of people trying to get a word in so I tried to stay in the background. It was nice to see all the interest in a company that has a resource that isn't quite as understood as others.

I thought the talk went well. It is sometimes hard to remember that 99% of people have never heard of vanadium and thus it takes a while for this whole "battery technology" to sink in. We've all done our research and thus vanadium batteries seem like the only logical way, but most haven't. It's not like standing up and talking about gold or copper or even nickel (as the guy before Vince talked about). It really only dawned on me this week how tough it would be to basically educate people to vanadium and THEN start talking about where the company is going. So all in all I think it went very well and I think the large increase in people stopping by at the stall the next day was testament to the great job of explaining where YRR stands and the potential going forward.

I think the updated resource is going to be very good both from a sheer volume angel and also a credibility one. Who knows how the market will react but there are just too many guys at YRR who really understand this resource for me to believe that they would be going through all this if there was any chance the results wouldn't be good. I think what I am looking forward to even more are any potential results of the company's push to locate possible vanadium end users and create relationships with them. From listening to the talk what really sets YRR apart at the moment (other than it being worth cents on the dollar compared to peers that really aren't that much ahead of us) is the grade. The savings that we will get from this and the choices that management will have as to what path we go down to extract the vanadium are amazing IMHO.

Lastly what I will say (from my loitering around the booth) is that I think we should all be encouraged by the way the YRR management is exploring every avenue which we can travel down to get the vanadium to market. It is truly refreshing that our money isn't tied up with some egotistical CEO who decided 10 years ago how his company would be run and which strategy would be implemented, regardless of a changing market!

It is nice that they came all the way across Australia to chat with potential shareholders but it wouldn't surprise me to see the focus switch soon to decent fund managers and potential end users of vanadium (only need 1),  but hey, what do I know hahahaha....