I'd have to disagree with most here, I didnt' find it disappointing at all. In fact I enjoyed his honesty, the junior market is in the tank right now and drill results are not helping share prices. So essentially his point is, why waste money on sticking the drills in the ground in areas which i'm sure VMS knows could yield good results if it is not going to increase share holder value?

As far as lack of a concrete plan, well it was pretty clearly stated that "Sales (sp?) Lake" is their next target and they are preparing to drill.

With respect to Reed Lake, what I take from the interview is that they are waiting on HBM to see how they might want to work together. That may take some time... If HBM does not get on board then it sounds like VMS will find someone who will. We all know its a tremondous land package, and i'm sure it will not be difficult to find someone who will want a piece of it.

Will all that said, I am disappointed it is taking so long, but VMS can't control the market environment and thats really was has hit the SP the hardest. They are doing the prudent thing by preserving cash. Could you imagine if they had to do a PP at these levels? we would get diluted beyond belief. Saving money and methodically planning...sounds good to me.