email from md, page-4

Hi SBC

No problem...there is no doubt the project would probably have a positive value, however its all about opportunity cost. SYR believe the capital required to develop the project could be used in other areas with higher shareholder return potential (though there might be a higher commensurate risk associated with this - thats the nature of business though).

The promising thing for me is that SYR are obviously very actively looking for opportunities while they are unable to perform exploration drilling (due to no drills being immediately available - though this is changing short term as per post). This suggests that unlike some fat cat MDs, SYR mgt are not going to sit on their butts drinking cognac and waiting contently for their fat fortnightly paycheques to come in.

Cdchi1