Given the fact that the field season is just starting up, IMO its going to be while before we see any news with substance; i.e. having the effect to move sp upwards. Havings said that, I wouldn't be surprised to see an anouncement re. a new President and additional properties being added to the stable.

Although the company has a historic link to the Beardmore Geraldon Camp, I wouldn't be surprised to see them picking up other prime properties elsewhere. Given the state of the Junior explorer sector, there are several properties out there that are available at bargain prices.

My thoughts on the current drilling program: it makes sense to me that the company is spending a lot (most) of cash on the central golden mile as this is the easiest and cheapest part of the project where a resource can be proven. Additionally, at this point, it would also be the cheapest to mine. Having proven reserves will add shareholder value, especially if they can prove up over 1 million ounces and the potential to add millions more. As part of the planned work this year, I am expecting the company to carry out a bulk sample, which is another step forward towards development.

There has been mounting critisism regarding the drilling program, but I believe that it has been methodical and well planned. Above all else, I trust Brian and have faith in his abilities.

There are lots of drill targets all over their holdings and they will get to them all in due time. There is only so much that the company can do with the staff they have on hand. They could go full bore, however they would quickly run out of cash.

In the companies presentation, one of their slides depicts a pyramid which illustrates the various projects and their current state of exploration. This helps me keep things in perspective.

Sam