As expected there were no upgrades with the quarterly report. I...

As expected there were no upgrades with the quarterly report. I think I would be reluctant to release significant upgrades in this market with this negative mood.
There are some amazing grades in the new drilling results which as they say will increase the average overall grades for Parrot Feathers.
At the end of the quarterly report you will see the intersections coloured for various grades for Trial Pit, Copperline and Parrot Feathers.
You will notice that one third of the intersections are 4 g/t Au or more, just over a quarter between 2 and 4 g/t Au and the rest 1-2 g/t Au. Making the assumption that the dark blue dots average 1.5 g/t Au, yellow dots average 3 g/t Au and the red and pink dots together average 7.5 g/t Au, the average grades for all intersections would be 3.9 g/t Au. Let's just see if this is near the final result.
On page three of the report there is the mention in bold letters of "a significant upgrade now in progress".
I think we will all be very pleasantly surprised (and relieved for some) to see just how significant this upgrade will be. My betting is it will lift reserves/resources to over five million ounces in one hit and will lift grades by up to 30%. We might even see a small lift in the share price!
There's $14,705,000 in the bank. Net expenditure last quarter was $1,673,000 and next quarter is anticipated at one million dollars.
Assuming that average expenditure will be $1.5 million dollars in the upcoming quarters, there is enough cash in the bank to last until January 2011.
It is likely there will be very significant activity before then but is is good to know that the company can continue operating at the current level without the need to raise cash for two and a half years.
The top twenty shareholders control 78% of the company, leaving only 22% or 27 million shares, for the general market.
There's no chance of a hostile takeover with these shareholders holding the numbers. That is a risk with some companies whose shares have been
shorted. A raider could offer 50% over current market price for some of these companies and still leave many investors out of pocket.
In my view, and it is only my opinion, CRK is exceedingly good value at the current share price.