Ann: Diamond Drilling Underway at Lac Rainy Graphite Project, page-62

Yes, initial drilling program to last 7-8 weeks costing around $600k. MLS should have around $1 mill cash so that is correct.

Yes should have said 2 mill not 3 to be raised after costs.

Question is how much they will actually get from this issue of shares. I have doubts whether they will be able to secure the full allocation with not great goodwill following continuous delays in the overall program.

Hopefully by “accelerate” they mean they will jump straight to the extended drilling following on from this initial 7-8 week maiden drilling program.

The one good thing I’ve always liked about this company is the lowish staff costs. Prudent financial management is very important when you are a company that relies on shareholder equity because you have no real income.