Ann: Quarterly Activities Report and Appendix 5B, page-9

Notice a lot of companies that IPOed recently (I.e. within the last year) have small market caps of around $10M, with small SOI. Yet some of them have immense potential for discoveries. There are also some which have been around for a while, sucker shareholder values with endless cap raisings, dilutions and no focus (I won’t mention names but one of them, impact is the hint), yet these guys are sitting at $20-$30M market caps with little cash and not much. I am guessing perhaps the longevity of these companies (regardless of exploration results) do help lift their profiles and hence investor attentions, providing share price support to a certain degree. That’s my opinion only, not sure what others think.

The speculative end of town is really wildly speculative. I’d rather speculate in the new ones that are still flying under the radar. That’s where you can leverage upside for exploration success.