Ann: December Quarterly Activities Report and Appendix 5b, page-6

Actually this isn't the case as much as it may seem. Charlie Bass' support has funded a few more drillholes, so it should keep the wolves from the door for another quarter. Although I am suspicious of a 20% drop in the SP, however looking a the ridiculous sub-$50 trades that drive the price around the bend it indicates something is up. There seems to be a pattern of the price bouncing between low 30's to mid 40's with announcement cycles.

It isn't unusual for prices to get volatile at the top of the range though, and we are definitely hitting highs, and with the recent drop I think there must be some good results coming so that people are stuffing their pockets with shares at low prices to cash in on the boom. Blind optimism on my part of course!

We need to get Charlie Bass out on the rigs, get some boots-on-ground geology work back in his life so he can literally feel his money going to work. And of course his professional opinion on the core would be very welcomed. Better take a jacket though, January is the coldest month in Tucson.