Think of what you just said GoldRush.

Do you want Smith to give 50% away to the big boys on the cheap? Or would you prefer he does whats best for the shareholders?

Here is why he hasn't done anything yet. He sees the 2003 EM surveys, looks to him that he has got a major part of the deposit that NOT hit. So, he gets in on the new EM surveys, wants to prove what he believes in. NOT and many others come knocking at his door and want to do JV's, PP's etc etc. He says, no thanks, I will wait to the EM's are in my hand, I don't want to dilute stock of shareholders needlessly. Yes the share price has paid the price in the short term. However look at the big picture. Once those EM's have been received, he plans on doing another EM survey, this time on foot on the ground. He hopes to pinpoint where he wants to drill. To do this he has to wait until the ground is frozen anyways, because it is marshland. Once all ducks are in a row, Peter plans on drilling the sweetest spot on his property, this winter.

I think it is refreshing to see a Pres of a company look after the rights of his shareholders over the long term. A little short term pain for some long term gain. To me Peter Smith is a sharp dude, he knows he is sitting in the drivers seat and is playing his cards perfectly.

So, you see this is where you and I differ in our opinion, your not impressed with management and I'm very impressed. Some time in the near future we will see who was right.

Al