In fairness to Elmer, we likely did get a good deal on these Arizona properties. He seems to have timed the markets very well. I think the reason for these purchases is to give Elmer something to work on if Teck backs in but does not buy us out completely. In that case, Elmer can sit back and relax on the Schaft Creek property because Teck will be busy doing the work for us.

That being said, I don't see a particularly bright future for these Arizona projects. Let's assume we spend several years drilling the Sombrero property. Now also assume we drill over 500 holes and prove up a resource with over 7 billion pounds of copper. What will that be worth? That is exactly the situation Redhawk Resources is in and they are currently worth 60M dollars. This works out to $0.15 / share for us.