Whaler, you are right. The two known deposits on Langmuir are clearly categorized by Micon as "indicated" resources. It looks like Van is reading too much into the risk perameters that are standard in these type of reports.

If anything the defintion of "inferred" should at best be used for the 20-40M tonnes targeted in further drilling. And that is not even correct until that drilling is complete and a further 43-101 report is issued. Until then its just bluesky. Its not a bird in the hand.

The good (or great) news is that both deposits are open pit for L1 and LN. As far as the collapse in price goes, it has more to do with the size and grades. For the millions spent on drilling and the time it took the market clearly was expecting much better numbers - as I was too. The Micon report came in much lower than my lowest expectation.

Maroons is also correct in that the nsr for Langmuir should have in no way been purchased without the data in the Micon report being made first. However if I read the reports correctly, 2% of the 3% was purchased for a total of $2,000,000 US of which Mr Miller owned 1/3 of that. Or for total proceeds of $667,000 in US funds.

What concerns me now is, that disregarding the Barton property, the other recently acquired properties near Timmins have further nsr's of $6,000,000. Since some of these properties were acquired from "arm's length" parties, I do wonder who owns those nsr's there. All I'll say is that they better not belong to any of management or the directors. And I hope that none of the nsr's are bought back without first disclosing an approved 43-101 report for the public to read.