Ann: Turner River Base Metals Project Update, page-15

Howard that is true for the gold prospect part of the area, but the VMS deposits are in a separate region and drilling there (proposed in that recent announcement) will be by DEG. Given they really have very little cash I'm somewhat concerned about how they might try to fund that. Any placement to do so would effectively make current holders stock worthless due to massive dilution. So in the upcoming qtr report I'd really like to see how they can possibly undertake any drilling and stay afloat without a capital raising. They need enough cash reserves to last until good results from the Rugby drilling push up their SP, or until a new JV partner buys into Turner River VMS exploration and starts coming up with good results that also help push the SP to a value where further raising doesn't cause such massive dilution to current holders.

Of course there is always hope that the Rugby drilling will also hit a new VMS deposit to enhance the current area!
But one thing was noted in the recent work in the new announcement is that there mineral bearing rocks are very old. Ca 2.2 billion years old. So a lot of faulting, a lot of folding has happened over that time leading to dissemination of ore bodies into numerous smaller bodies that while individually might be high grade, they are not easy to mine given their spatial patchiness. Certainly a lot less chance of finding one big deposit that might occur if it was produces as part of a much more recent volcanic period.