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riverrock

09/30/13 7:45 PM

#9106 RE: StoogeNo4 #9105

I believe our problem has much to do as listed below in the following order:

-The present market conditions for the exploration/development companies.

-Energizer not giving follow-ups on the Vanadium deposit, even after considering the advent of the Molo Graphite project. By not giving follow-ups they played into Byron's degradations.

-The increase in authorized capital stock.

-Not getting the word out concerning Energizers potential.

-The increase in employee options.