Wow, busy morning. E-mails & phone calls flying everywhere. I think people are finally figuring out that the last NR eluded to a lot more positive then the lack of core discovered. And they want more details. Peter really needs to get another news release, because just like his phone conversations, he knows a hell of a lot more then he lets on -like Columbo. He's got much more to add to the NR, and that's just McFaulds. The action going on now is about the other properties.

Here is a tease: A lot of background excitement regarding Chinese and Magpie, Peter's meetings in Toronto. We've heard this story before, but at least were getting leaks of demands on Chinese part. that's part of the skill of negotiation. How little does Smith need to spend vs. how much risk the buyer is willing to tolerate vs. price willing to pay. Which in his advisory group has the skills? We may get a summary monday or early next week. Smith time means plus one week.

Until then I've gotten several e-mails to ask for confirmation. Yes, last week, Peter did say "$5 per share easily." and that's after split with Sheridan.

Some more hand holding? Breakdown insitu sale of our 17.5% percentage of Champion and you get $2/share. 1 bil ton iron deposit, do math, etc... plus Larson close to 43-101 time. If this confuses you, Peter said Champion does not compete with Magpie.

I know, some of you will always justify the merit of a NR based on SP. Just like Noront NR on hole 49? How many sold after that NR only to miss out when 2 weeks later...

Great weekend.

-sg