Hi Leodor!

I do not think there is any problem at all in the relationship with the First Nations.  SMH promised to be off the land before December, and even though they did not get the drilling completed, they fulfilled their obligation as promised.  That is exactly the kind of thing that builds credibility and trust.  And in hindsight, I think it worked out okay because the way the market is right now, releasing a batch of drill results is wasted anyway.

The way I look at Setting Net Lake is IF they can confirm just 100 million pounds of moly in line with the historic estimates, grading about a pound per ton, then they have a deposit that is of critical mass and potentially economic grade.  Moly trades over $30 a pound now, and even just a 5% NAV for that deposit would command a market cap of about $150 million for SMH.  The current market cap is only about $15 million.  Now I do not expect SMH to become a 10-bagger just on Setting Net Lake, but I DO think we will see strong gains ahead.

cheers!

mike