Ann: Quarterly Activities Report, page-66

That's right but that is true for all exploration companies. Yet most of the other exploration companies manage to drill more holes than we did in the past 2 years. Even while we were doing the 6-8 month long survey last year, we could have been drilling at Kurundi to expand on what we hit the year before.

If you have the money in the bank there is really no reason to act miserly and not drill. We are an exploration company, and that is our core deliverable - exploration.

2 years and just 1 hole and that too a dud. Begs a question, how good was our survey and it's interpretation. You would expect your first drill after months of survey would be the site you think has the highest probability of hitting something. If this was our best target then ...?