Well the annual report came out today and it is very interesting reading..

The most interesting page is page 50...Mineral Exploration Expenses..

It breaks down the individual expense costs for eack claim worked in 2007 and itemizes..

The total expenses for all exploration in 2007 was $6,483,148.00

6 main projects and "others"..total 6 mill and change..

What catches your eye is the comparison between Cariboo Lake and Hercules..

And how the expenses break down..

Having access close at Herc and our own hotel(Which dosen't show up in this annual report,because it is until Dec 2007, and the hotel will show up in the 2008 report....)is a big plus...

Cariboo Lake...Fuel Freight,transportation.... $1,279,000.00

Herc................ Fuel Freight,transportation ...$11,894.00....

Cariboo Lake.....Travel and lodging.............$569,808.00

Herc....... Travel and lodging.......................$30,30...

Of the $6.5 million spent in 2007 on Exploration,$5,111,350.00 went into Cariboo Lake...!!!!!!!!!!!!

So management certainly made a wise decision to cut our losses and get out of that hell hole..

There is lots of reading...Good luck..

Well done us..

Go Schlongs..