Ann: CLASSIC APPLIES FOR MINING LEASE AT KAT GAP, page-4

As is stated in the ann, they are having talks with a possible mining
contractor, in my opinion, this is better than a JV partner, we still have
a 100% of the property and the mining will be done without having
to CR to meet JV cost obligations, the contractor will foot the bill for mining and
haulage to a process plat. LNY has a similar arrangement and its working
very well.