One of the constructive ways of moving forward as to development, operations, and shareholder considerations would be a JV with a major such as Xstrata. For example, you give up a 50% (or other negotiated) interest in the deposit in return for the JV partner incurring the development cost. The shareholder value and risk reduction advantages are several:

1) You have a major committed upfront, making these deposits strategic to them years earlier.

2) Knowing that there will be significant economic deposits proven up, you move forward the inception of development dramatically, using the experience of a major;

3) Major dilution more or less ends, while the management team continues on under contract to the major partner who is picking up the tab.

4) Risk is shared with a set of strong hands and cash flow will begin years earlier. A lot of expensive wheels such as FN relationship expertise , do not have to be re-invented.

This type of deal, in one form or another enables upfront marketing of the unexplored resources with a known major, rather than the total risk of the "Build it and they will come" approach. As a result, market and timing risks are greatly reduced.

I hope from a strategic risk management standpoint that we are giving this approach, among others, serious consideration. Time is also money, and we should hope to negotiate in the current low interest rate environment. Again, I am focused on shareholder values and risks, rather than the potential glory of a David vs Goliaths auction down the road.