Depending on who participates in the pp, the sp could take a beating. I've seen it before where participants will short-sell their own stock before the 4 month hold expires. A director of another company told me this: "How bigger players get around this is they sell a similar amount of stock in a different account and "Borrow" the stock from the broker. The broker does not mind as he has a guarantee that your stock will arrive shortly. After the 120 day hold is over, the broker then crossses your short position, that is you owe the market stock with your new free trading stock and you have effectively traded in a period where you were not supposed to. This by the way is legal and widespread."

The fact that the got a bought deal now with about $17million left in the kitty tells me that they plan on burning off some cash in the near future. My guess is that they will need a lot of money to do a bulk sample and they plan to escalate exploration on other projects. Remember the slide in the presentation which depicts the projects in a pyramid? It looks to me that some projects have graduated up a notch.

Sam