I had a nice chat with Jim Voison this afternoon at the PDAC. I came into the conversation as Jim was recommending to an investor from LA that he should seriously consider purchasing some more UC. We discussed the drilling schedule for UC and Jim advised that they have identified their 1st drill sight but were awaiting input from the geologists review of the geophysics to pinpoint the location to determine the exact GPS location and the drill attirude (?). He indicated that the drilling should commence before end of March with results anticipated in early April.

The 3 of us then discused the area play and anticipated takeout by a major. The other fellow and I suggested that it may take at least another year to remove sufficient risk for a major to be willing to take out the juniors. Jim did not say anything but his body language clearly indicated that he expected it much sooner.

I also spoke to Mike, the operations manager of Billiken (he was the sole person manning the SPQ/Noront booth) and he advised they are taking on more personel to ramp up their drilling programs. The y are handling the drilling programs for most of the Ring's players - not PRB. He also ststed that none of the current players would be putting any mine(s) into production and further indicated that news would be forthcoming sooner than most expect on this front.

I will be returning to the PDAC tomorrow and hopefully can glean more. And yes, I bought more UC.