Ann: QUARTERLY APPENDIX 5B CASHFLOW REPORT, page-19

Hi Merv,

As you said, it is actually both. I meant distant, as SE is roughly 4 km from BT if memory serves me right, and obviously distal too.

I also saw some examples in the paper with gold deposits of 6g/t. If expanding SE brought us somewhere near that head grade it would be more than welcome by the market.

As for the copper, I am a bit pessimistic, most holes lately have come back pretty poor. I know they are vectoring holes, but I am starting to think that maybe the copper is huge, but so dispersed across such a huge volume that it is not economical.

Hope to be wrong though, but either way there is money to be made in SE and Cockie Creek alone.