""I know the drill program is king, but with this much free cash...

""I know the drill program is king, but with this much free cash I kind of wished they had beaten VPE to taking out the minority interests from a number of cash strapped juniors in the adjoining leases along the fairway.""

Their net cash is fairly modest.

Balance at 31-06-2010 $11.04mil
less ITC's estimated expenditure for Sept qtr $1.64mil
less $2.6mil owed to Smith
less C/Notes

Comes to a bit over $6mil net cash which will easily be absorbed by the drilling program, weather permitting.