Another reason to consider for the move of the drill from AT3 might be related to the breakup. I believe that the camp is closer to E2, and so this might just be a logistical move, enabling the drillers to continue through the breakup. Having both drills (or all three) on one site means that personnel and fuel are readily available without use of costly helicopters for delivery.

Also, why spread the drills around when you are trying to find the extent of one deposit? By drilling the extents of D2, they will be able to get an idea of the tonnage much faster. Whether this leads to a completed 43-101 or not, it will negate the need to split up the drills here and there. I would expect that the drills will return to AT3 next, or maybe to the FWR jv to help explore that beautiful anomoly.

People are too quick to label others. This is a very tough business to be in. Exploration takes a long time, and a lot of money. However, investors will question why it is taking so long, and get labelled as bashers when they offer their opinion on why the stock may be in decline. Everyone has apparently forgotten that the global market is still reeling from the credit crunch, which means investing dollars just aren't there. The majors are still standing on the sidelines, but I guarantee that they desire the NR more than we do.

On the flip side, pumpers and perma-bulls are the labels that are applied to anyone that defends a stock. However, the stock should be defended. The ores are still in the ground, the commodities are still pricey, but the SP has dropped. Does this make sense to anyone?

We still have a long way to go before we see the final price. Will there be a mine? Definitely. It might not happen immediately, but the demand for commodities will mean that we will eventually have to lower the level for economic mining. However, I still feel confident that this will not be necessary for this area play. Eagle 1 is definitely not the mother lode, IMHO. With the number of anomalies in the ROF, it will only take a couple more E1 sized to make a mine viable. Given the political climate as well, and this company has a long way to go.

I believed in the company enough that I bought heavily at over $7. When the price fell to $6, I thought I had been handed a gift and bought more. And I have continued to buy all the way down, until now I am out of dry powder (and margin). But I can tell you this - only a major is going to be buying my stocks.

Cylinder