The 43-101 from Geostat, in repsect of the drilling results at Barry, up to the end of 2009, was expected to be received by the board in mid June with a possible publication by the end of June 2010.

The 10 July 2010 press report stated that the directors planned to drill 40,000 to 50,000 feet at Barry in the 2010 summer drilling campaign.

As we are more than 1 month from mid summer, it is likely that some 2010 drilling will have already commenced. Could it be possible therefore, that the 43-101 is being delayed, in order to obtain some additional, potentially critical, 2010 drill results. These preliminary 2010 results may enable Geostat to upgrade parts of their 43-101 report to proven reserves?

Whatever the original reasons for the delay, it would appear to be sensible to release the 43-101 with the benefit of all relevant drilling results at hand. The additional $2m may therefore be needed to produce the first phase of the 2010 drilling campaign. However, if this were to be the situation, it would be positive PR for the directors to provide this information to investors.