hmm, page-40

It's really quite easy.

They have some outcropping mineralisation... but no JORC resource.

Also they only have $1.1 Million in the bank.

This is a concerted push by management to pump the price up a bit to ensure some options conversion towards the end of this month. If they can do that... they may be able to stave off the prospect of raising at these (or lower) levels.

The issue for holders is that once the licence has been granted (not even official yet), then they have to devise a drilling plan, and then secure a drilling rig. Can't see this happening within 3 months of the license being granted (when will that be? You can't just ring the DOIR and say hurry the f_ _ _ up.).

To drill out a JORC resource will most likely take 3-6 months, and cost somewhere in the vicinity of $2 million.

So, for STB... it will most likely be:

- grant of licence (now - 3 months?)
- organise drill rig & devise drilling plan (1 month)
- drill out the resource (3 - 6 months)
- model the drill results through consultants (1 month++)

So I would suggest that STB is looking at a MINIMUM of 6 - 9 months before any JORC figure is known.

And untill those drill results come back, the company will not know depth, overburden, impurities etc... all which have a massive impact on project economics.

The long and the short of it... is that there is FAR more unknowns than knowns at this stage.