"At current O/S, it will be hard to attract favorable terms if the suitor senses we are in dire straits."

What? Is that one or two thoughts? Current oustanding has nothing to do with anything. Back in the time when securities firms and banks did financings for mining companies, they wanted a low share count, though there was never a proven business reason for this - it was more a play on the psychology of some of their investors. Those days are over, though some in the retail market still look to old rules of thumb. What more important these days are the senses of potential JV partners. They don't think like securieties dealers.

"So I hope the folks on the board are up to the task of selling this story to someone with cash for drilling. Clocks are ticking..."

I think our BOD know what they are doing far more that those of us who are observing from the sidelines, including me. I also believe they quite well appreciate the adage that "time is money". Afterall, if us shareholders don't make money eventually, they don't either. Please note that this company is not like many others, who annually give out shares and options to board members and friends of the company, which often are immediately dumped back into the market.

...speaks to integrity and faith in the future, wouldn't you say?

VP