GXS has bought the coal rights for a large chunk of north eastern Saskatchewan. There isn't anyone close to them so the adjacent plays are regionally adjacent which may or may not mean something.

GXS will (or is) be drilling this summer so we will see more interest as results come out. Hopefully they have secured a track mounted drill so they can drill and move. Indications are that this will be an easy deposit to drill ( a well defined horizon and not to deep). A couple of days per hole and on to the next. I suspect that we will see some widely spaced reconnaisance holes to test the regional extent and another drill doing infill drilling.

The big positive is that if interhole consistency is there we will probably end up drilling on 500 meter centers to come up with the results necessary for a 43-101 mineral estimate. Don't be surprised if we see a preliminary esitimate early this fall. Unlike base metals and precious metal there IS NOT a backlog for coal assays so results will come fairly quickly.

Right now we are facing the impact of a pull back in the spec price of coal and the general down turn in the market. As long as energy prices stay high, coal prices will follow. By the end of July we should be screaming.

... Been There