Ann: Sinclair Mine Complete, First Caesium Shipment Scheduled, page-96

John,

Last year PIO drilled Peg 8 South.  For obscure reasons, they did not report the results on this drilling except to say that the geology was "similar to Peg 8"   and there were indications of a "Tanco- style deposit" whatever that means.  With seven or eight sites ranked equal to Peg 8 which are undrilled and the encouraging report from Peg 8 South, I think the chances of discovering a lot more caesium are high.  We also know from the drilling at Sinclair that there in more caesium below the level of the bottom of the existing excavation.  It was not drilled to determine just how much.  I have no doubt that this will now be drilled from the bottom of the open cut as this will be much cheaper than drilling from the surface. It is also highly likely that the potassium feldspar in the Sinclair mine will be drilled out to prove a resource.  They already have sufficient information on this deposit to convince the Mines Dept. to grant a mining licence over the ground.  This is not lightly granted, So there is not much doubt that the feldspar is there and they have already released an exploration target of 700 to 900 thousand tonnes of potassium feldspar.  There is a couple of million dollars in the March budget for work at Sinclair and I don't see what else it can be for.  What they discover with close drilling of another 500 metres south of the existing open cut is anyone's guess, but another pod of pollucite is not out of the question.  The contract with Cabot includes a clause giving them rights over any more pollucite discovered in the Sinclair mine over the next two years, so Cabot must believe that there is some chance.