Purcell could not be more accurate....Adriaan Bakker's Vanadiumcorp Resource Inc. (VRB), unchanged at seven cents on 131,000 shares, has a tentative deal to option off its Iron-T vanadium-titanium-iron project in Quebec to an unnamed private company. That company must pay $25,000 up front for an exclusive 60-day due diligence period. From there, it must spend $5-million on exploration for a 75-per-cent interest. The private company can boost its interest to 85 per cent with a preliminary economic assessment and to 100 per cent with a feasibility study. In other words, Vanadiumcorp will get just $25,000 for the property if all goes well; in fact, it will not even retain a royalty. If Iron-T reaches production, Vanadiumcorp will have the right of first refusal to buy up to 200,000 metric tonnes of vanadiferous titanomagnetite concentrate per year for up to 15 years through an offtake arrangement. Mr. Bakker, president and CEO since 2013, presumably hopes that his company will have found a use for the material by then. Vanadiumcorp currently lists 14.38 million tonnes inferred within the Genesis zone at Iron-T, rock that averages 0.42 per cent vanadium oxide, 6.55 per cent titanium oxide and 27.3 per cent iron. That is but a sliver of the projected 22-kilometre-long strike length at Iron-T, which is near the mining community of Matagami in northwestern Quebec. Iron-T, like the company's more advanced Lac Dore project, 350 kilometres to the east, was acquired several years ago when Patrick O'Brien was in charge. (Mr. Bakker led a successful coup against Mr. O'Brien and his crew in 2013, backed by a few of the company's major shareholders.) The company's stock traded at six cents when Mr. Bakker launched his dissident bid, and while the stock appears to have gone sideways since then, it has been as low as two cents and as high as 18 cents, as Mr. Bakker's promotion ebbs and flows. Unfortunately, there has been significantly more ebbing than flowing over the past two years. If Iron-T is optioned away, Lac Dore would become Vanadiumcorp's sole mining project. In February, Mr. Bakker said that his company had "plans to commence" and "intends to implement" a drill program that would be "aligned with recommendations" from its consultants. Mr. Bakker did not say when the planning, commencing and implementing would result in a drill turning at Lac Dore, but it has not started yet. Under Mr. Bakker's regime, Vanadiumcorp managed to roll out a resource estimate and a preliminary economic assessment well behind schedule, but the regulators stepped in and forced the company to retract most of the information. As a result, there is no currently valid dream sheet or resource estimate for Lac Dore. Stockwatch article by Will Purcell, May 31, 2019