Coach -

Thanks for this very important information. It is good to understand the basic operating methods behind different companies. Both companies have great potential but each is approaching it from a different direction. It is difficult to say who has the best business plan.

I do agree that GPR is a more likely target for takeover. Sometimes that is good (lperhaps the LSG and WTM will be a good synergy). Sometimes that is bad (such as almost any move by Barrick). It all depends on the philosphy of the acquirer.

As I stated earlier, I would like to see a little producer "run the table" at least through the medium production range. That way they have a chance to see if they can make a good corporate model even more successful. Some companies only seem to be able to be "explorers." They fall apart when to comes to creating a successful producer. On the other hand we now have many big producers that have forgotten how to explore.

Companies like IPT and GPR get my juices flowing.

- Panamax