Pangaea

According to Chad, if VIT puts in an adit to complete the next drilling phase, underground drilling is 1/10th the cost of drilling they are presently incurring. In this case their drilling starts at 1000 feet + below where their surface drilling is taking place right now. Also the pace of drilling will be much faster since they won't be drilling 2,200 to 2,700 feet. If VIT continues to add high grade mineralization, further dilution IMO won't be a problem - your that much closer to a NEM doing a back in or we end up with the whole project ourselves. Also one should note that it is very unlikely that VIT's stock would be selling anywhere near where it is today should they continue to have success at Cove McCoy - which would also reduce the degree of dilution. Don't forget, management is looking for other alternatives that may reduce the need for further dilution. This management team is becoming more innovative and you may be surprised as to what plans they may have for future financing needs.