I did get to spend some time with the pertinent people today, as it was actually quite a bit quieter than yesterday. So i do have a bit of news and clarification of some older stuff.

On the subject of who is buying, I get the impression from Hamilton that the buyers are not funds. They are aware though that funds are watching them, and treading water until the new CEO is selected. This one of the considerations for them when selcting this person, ( I suggested Toxic Bob and did not get a pretty response). Once the new CEO is selected watch for big buying if they are correct.

On the JV property, They are holding back until new geophysics are done, I think in coordination with NOT doing them on this new grid#2 north of FWR. They want to get it right when they do drill and will wait for the full information before drilling.

Roos got it basically right, when describing the breakout of the expenditure, but I think the mill that he is missing is the cost of putting in the landing strip.

More later.

Regards

k