Ann: Cockie Creek drilling program update, page-126

The company will burn through its money with so much drilling to be done. It would have been good to have raised more than $4m gross so as to have a buffer, but that did not happen. Why? The Board has a capital ace up its sleeve? Income from golf production? A spin-off of the nickel tenements? Or does it expect to prove up a resource at Cockie Creek of sufficient quality and quantity with this drilling program and also find a rich copper porphyry potassic core at either CC or Bottletree so as to attract easy money to fund a continuation of the drilling at a higher share price - maybe a cornerstone investor? Time will tell of course.

In the meantime though, it is clear that CC is yielding more than expected so far. PH said (I think) at Noosa that Bottletree was the bigger target, but I now wonder if CC might trump it, at least in the short to medium term anyway. I await the CC results with great anticipation. I think that the buying strength that has developed since Noosa indicates the same sentiment from others.