Odd year the last three months, page-8

I had a yarn to Mike today at the conference. Once Qld dries out, there could be some action at Blackridge. They can only take bulk samples from the granted mining lease at this stage, which is only on the edge of the prospective area. Once the company gets the exploration leases converted to mining leases (that could take quite a while), the best conglomerate ground can be bulk sampled.
Commonwealth and Broken Hill are better suited to joint ventures as they are both expensive to drill, especially on a tight budget.
I've talked to a few companies, some I have shares in and some just to get a feel just how the small end of town is travelling. Pretty much all small explorers seem to be hurting, especially those with low cash balances. They are having to try and keep the market interested, but conserve cash until the tide turns.
IPT still has just under $2m in cash and 2m Pacton shares that could be sold off if things get tight, so they should be ok for the next 6 months maybe.
Not happy with the price of IPT but have to sit tight and wait for a change of market sentiment.