Our Capex should remain fairly constant. I expect it to decrease a bit excluding labour and materials charges. There's a good reason for that. Elmer has set the bar high. He's booked and paid for the port facility. Prepaid expenses like this are a sign the guy knows what he's doing. Our contractors list is robust and I'd be we have contracts in place right up to the test run. This degree of organization helps keep costs down.

In 08 the prices were booming and Elmer went higher on the costs. With the prepaid expenses we'd need to see a repeat plus before the capex would go up. I think this will happen for global reasons but that won't be a bad thing. Prices tend to rise with costs in a hyper inflation model.

There are more than 7 blobs. In particular, there is one all by itself to the southeast. This is part of the Rainbow/Ball Creek hydro and porphry system. It will be an eye opener.

Depleted centers are to be expected in the blobs. This was the purpose of hole 404. We needed to confirm the signatures. The bubble in the center of the anomalies is highly conductive but not mineralized. This is holding true for all of them. It is also what we expected to see. It has a lot to do with specific gravity and temperatures.

We will have enough drill data to expand the Paramount Zone by 800m x 600m x 350m at 0.48. So what. There will not be enough data to define any of the other resources. Elmer said he only needs 2 holes each to make Teck happy. That we can do. To get close to a full set of proof we'd need 60 holes min. That's 60 million and would take over a year more. About 20 of those holes would need to be 800m. We'd need 8 holes at 1000m to test the brechias. The list goes on. So I go back to: "At what point do we stop drilling and sell".

On the south west end there's an issue. We have to drill 350 meters just to expose the sheet. That sheet trends west. We know about the Hickman and it's effects. That area requires pure exploration. We have no data on it. HAS 16 is just the begining. The Titan suggests there's a lot more to be found. It seems to me that these areas would be bought on spec. Stuff like that can go for millions. The stuff with 2 holes and identical signature must command a higher price.

1 billion... sounds like a fire sale. Elmer said he wants a lot more than that. The Paramount Zone alone is worth 1 billion excluding 2010 results. We need 4 billion just to get the $2.50 you suggest. (25%).

Any doubts? Read this old report and see if you can poke holes in it:

http://www.bullionbullscanada.com/index.php?option=com_kunena&func=view&id=340&catid=10&Itemid=122