Over the past year we have greatly decreased the prior burn rates NOT has become far more efficient as far as expenditure dollars are spent.

You are right, but only up to the decision of "going deeper" at Eagle 1 in August 2009 (because I still think, the "real" Eagle´s Nest "discovery" was back in November 2008) !

Now we are back to $ 2,5 M / month, which would be similar to pre-proxy times.

I wonder what the major shareholders are saying about today´s burn-rate because they didn´t like the money spent in 2008 !

And "going deep" was "on the table" since mid 2008 and was successful according to the November 2008 NR.

So nothing really new here, apart from a different management.

FANTOMAS