We have something here! Negotiations are sometimes difficult anf frustrating. You can bet that negotiators for HBM are professionals and would like to table the best deal for their board of directors. The same is true for VMS. So where are we? Two distinct claims were identified in the latest release. The claims appear to be contiguous to the Reed Lake claims and could very well be claims where some dispute exists on the ownership of the property. Further, if there was no significant interest in what lies beneath, there would be no extension on the agreement. HBM want feedstock! Cash payment is likely an issue. Clearly, given the current market capitilization we (VMS) have about 12 cents in cash or short term deposits. That means we have a valuation of 13 cents or say 15 mm on all combined properties. Considering the amount of money already spent on properties we could safely say that current pricing hugely undervalues what may lie beneath. So what is the value? Assuming that HBM would not extend the agreement if there was no reason and simply walk away, it is also safe to assume that there must be a purpose for continung negotiations based on a resource that can be easily brought into production. Pity the poor investor who must liquidate stock held for several years in order to fund the education for a young daughter/son at prices at about 25% of the initial cost. The extension is a bitter/sweet announcement. Share price is certainly not ready to explode higher and in truth may consolidate. This consolidation will, or should be, be short lived. There is support at these levels and investor excitement should be heightened within the coming month. It is doubtful that there will be yet another extension! The Snow Lake region is the future for HBM. Many agreements have already been closed with other juniors in far less time. So why the delay with VMS? Could we surmise that it involves a significant value in future cash flows? Why not! Otherwise, I assume that this deal would have been done or discarded. It will be an interesting month. Shareholders should NOT look at charts or inconsequential volumes. Shareholders should look at the amount of share value traded on a day to day basis. We need to see a day of more than $250,000 spent on stock trading followed by significant dollar interest in days that follow. Then and only then, GET EXCITED!