Armstrong,

I am not sure if i am qualified to give you an answer about when a 43-101 might be released, but I am going to say that the only one who knows, and this is in my opinion only, is Ned Goodman.

The reasons for this could be one of several or a combination of them all:

1. Ned and gang are not finished accumulating enough shares to meet some 'number' that would satisfy his fund's needs.

2. They are making too much money in manipulating this stock and don't want the gravy train to end just yet.

3. Ned is enticing or goading someone into making the first move on an offer for SGR and that would spark a bidding war, desirable for both him and us IMO.

4. The more SGR can accumulate in ounces, the more we will realize on our investment.

5. The more time this can be delayed, the more chance SGR has of getting production going and a chance for SGR to shine on its own, slim chance in my opinion.

I am sure there are other reasons, but these ones stick out for me. I have learned that patience is best put up front and start finding other things to worry about like AHL playoffs of more curling than i can possibly get enough of.

Hope that helps.

Andy K