Then they will spend another 12 million plus on phase 2 if they like what they see in phase 1..

Well folks they like what they see from the drill.... 2 holes have indicated that the structure they were looking for is in dead there..

Reverse circ holes have been completed and sent in for assay.

Both core holes have hit heavily altered structure

This is good.

Newman Todd will be on hold untill funds are aquired under favourable terms.... and 10 cents is not it... 30 to 40 before any financing