Ann: Highly Successful Drilling at Paterson Project, page-33

"Cautious exploration will make the cash go further... imo."...absolutely true mate. But, in my view these guys are being too conservative to the point where investors who shelled out $7mil in the last placement seem to came to a conclusion that it's better to bail out at a loss. Sort of they were expecting quick use of the funds to drill aggressively, especially at Mt. Alexander, and that wasn't achieved...it's a balance indeed. There is no point being too cautious to the extent where we are preserving cash, but the sentiment is hurting hard which means the next raise could potentially be done at a lower level, all other things being the same.

Reg. Canada results, gut feel says that initial results would be good and support potential of a mine although with small resource profile, and the co. are planning the infill drilling to bolster the case of a profitable mine by trying to increase those resources, before they could put forward the scoping study etc. Time will tell.