I e-mailed David Palmer earlier this month asking for any information on the Mary March case or the McFaulds lake project.

David was prompt with his replies but as of today, there is still no news of any note to report.

He did mention that the airborne survey of McFaulds Lake was still being interpreted in order to establish drilling sites and that the Mineral Rights Board had not yet confirmed a schedule for the adjudication hearing.

Oh well, anyone who has been involved with this company for any length of time is used to waiting. I'm sure it is frustrating for management as well but that doesn't really make me feel any more enthusiastic about the near future.

My real reason for buying this stock is the Mary March project. McFaulds Lake would be a nice bonus and may even prove to be a successful project on it's own, but my concern regarding McFaulds is that there doesn't seem to be much sense of urgency on the part of management. I could be totally wrong about this but if they thought McFaulds was a possible home run I think they would be pushing it harder.

Never the less, as an area play, it deserves to be given a chance. Like I said, it could be successful if we ever get to the drilling stage and find out what's really there but that doesn't seem to be happening very soon.

Mary March seems to be a real valuable prize if we can ever get finished with the legal wrangling and start a drill program. It could rally be a very large and profitable project but I've given up expecting anything to happen this year. That doesn't mean it won't. It just means I've given up expecting it.

I still believe the project will go ahead some day and that Canstar/Phelps Dodge will win out in the end. All of the law and precedent is on their side. I still hold my shares and I will not sell them unless everything falls apart in the future and don't expect that to happen.

Obviously I have other investments and as they go forward I may even take some profit and buy more ROX at these low prices it's kinda like having a long term investment with a balloon payoff in the distant future.

Regards, Muffles