why convert options in january, page-58

re: money from yrr float this is it this_is_it - your questions are extremely valid. Cash and Management are things that I have learnt to look for in a company....but occasionally make the mistake of ignoring these issues and get burnt.

As far as what has been released to the market, there is nothing to suggest anything other than a stop gap solution in the form of $500,000 from the YRR float.

I personally had always hoped/speculated that their two main avenues, being YRR float or Peak Hill gold, would lift the shareprice high enough to excercise some options to bring in some much needed $$$$.

These things have been "gonna happen" for years and it can get frustrating. As a long term holder I can now see that they are in the best shape they have been for a long time .... provided things go according to plan.

They were meant to be drilling Peak Hill in March this year and probably wont be drilling again until March next year - who knows, we have to wait for these iminent assay results now which if good will push the shareprice above and beyond the excercise price to which they are so close.

Those who bought the oppies on the market at .4c or higher are probably not gonna excercise them right away ..... the directors however got theirs for nothing and if they are serious about the company Id like to think they could excercise a few themselves and show as much faith in the company as I have done.

The options are a lifeline to the company and it makes sense that they are gonna get off their @ss and do their best to get them in money.

That covers the money....there are other ways of couse but they are pure speculation.

RE management, well, Dennis is a highly regarded and repected business man here in WA with a reputation to maintain. Im also betting on him being pretty sure of what he is doing so as to not ruin his rep. He may not be expreinced in running a mining company but is he a "Deal Maker". I think those that make deals are pretty valuable no.

Anyway, laters, good luck.