"If so, why would that be different all of a sudden in regards to Hay Mountain"

Right, there should be no difference, except that JB, et al, are probably talking with different sets of people who may have different guidelines leading to initial investment decisions.

Having said that, I still do not expect to hear anything as soon as some are thinking. I lived and traveled within the Far East off and on for a total of three years, including 2 years as a student in Taipei a very long time ago. Culturally speaking, I learned that on this side of the pond our businessmen can be way too quick to jump into partnerships. For many Asians, especially Chinese and Koreans, potenial alliances must be nurtured over time before deals can be struck. Then, loyalty trumps much else that may get in the way, so these arrangements can be solid and reliable.

Larry Liang may be helping in regards to "nurturing" contacts, but I would not hold my breath for news in the very near term.

Let's get some pilot drilling done, and then turn our attentions to potential partners. Otherwise, and in my opinion, we will have to give away a lot more than may be necessary, and you really would not want that, would you?

VP