re: Ann: Infill Drilling yields more Excellen... Lotz - "What is...

re: Ann: Infill Drilling yields more Excellen... Lotz - "What is it gonna take? Are u losing patience?"

I think we need the whole junior gold miner segment to take off. For this to happen we need the gold price do do what it has been threatening to do and that is break through the $1200 barrier and head up higher. Although the current gold price is excellent and there are good margins for the miners, fear and risk aversion is still supressing interest from most potential investors.

The current gold story is very good for gold miners - with European dept issues weighing on the Euro, Long term doubts on the US dollar value and inflationary pressures around the corner. Central Bank gold sales have also dried up. New deposits are becoming harder to find in geopolitical stable countries. etc etc.

A possible dampener on the market at the moment for miners is the possible tax implications for miners in the Henry Review. How foolish would it be for an additional Federal Resources Rent Tax imposition at the moment. Talk about biting the hand that feeds you. No doubt it will be one of the recommendations put forward but I think there will be great resistance. During a period of economic recovery it would be a real threat to marginal new projects. Let me state clearly though that the Phillips River Project is not in the marginal category.

Am I losing patience - no way Jose - the Phillips River Story - I have more confidence in it every day.