Going back again to NR# 178,

"Required capital funding for the Hay Mountain Project would be Phase 1 drilling at US $5 million to be expended in the first year to confirm presence of ore grade mineralization. Post phase 1 drilling activities in the amount of US $60 million are to be expended over the next three years."

One of the reasons I suspect this to be more complex than it would appear is the JB must ensure that any prospective partner have the resources to commit to spending 60 million, subject of course to results from the initial round of drilling.

In other words, finding a party or parties willing to gamble 5 million for a quick flip may be easier than finding a truly committed partner. If we took 5 million from a flipper, then JB will likely have no control over who the new partner(s)s may be. That measure of lost control could be very hard to swallow, so any prospective deal would have to include insurances that the initial investor stay with us well past Phase 1 drilling.

We are mosts certainly not looking for 5 million to just get started, but for 60 million so the program can continue uninterrupted, assuming positive results along the way.

VP