Eclipsing all else, I note two key points. One is, money for drilling is not in hand, which does not mean there are no interested parties in the wings. Almost as an aside, but in anwer to a question, some part of the recently approved S-1 will be used to facilitate drilling, but will not pay for it (at least that's my interpretation of what was said).

Of perhaps greater significance, and said of course with qualifications, was that BJ expects the Hay Mountain project area could prove larger and richer than Bigham Canyon, which is the largest open pit/cast mine on earth, and which has been been mined since 1863, has many years to go, and can be seen from outer space.

This is quite a dramatic statement for an exploration geologist to make near the close of his career. I believe it will be something for which he will be remembered, either as a renounded and pioneering explorationist, or a gross disapointment for investors. I'm betting with Jim.

VP