Correct CopperHound - small explorers without the capital base...

Correct CopperHound - small explorers without the capital base or a cashed up partner coming on board don't have access to the funding needed to progress projects in time frames many would like. Probably like you I am happy watching the gold and uranium price moving in the right direction and it is my view that this will trigger some increased activity over the next 12 months.

At present, I can't see Colin wanting to initiate a capital raising at the current share price to fund an increased rate of development at AT or other exploration targets. So to me it is steady as she goes progress with continued conservative use of cash. What could change is a cashed up gold miner (there are plenty) coming into the picture or Boss puts up a decent offer for Junction Dam to provide more available cash. Boss has made a lot of money on their purchase of 1.25mlbs of uranium on the spot market at $30/lb and will be producing soon and are wanting to extend their resource. Having said that if we see gold breaking out strongly above US$2000 this will created interest (fever) in all junior gold explorers and a substantial rise in Marmota's share price. This could see a well supported capital raising happening and large enough to move more rapidly to development and mining at AT. Timing and a bit of luck is important for juniors! Perhaps the 'perfect storm' is around the corner.