Grazer,Not geologically inclined myself, but watching Karlawinda...

Grazer,

Not geologically inclined myself, but watching Karlawinda closely due to their seeming enthusiasm for it, which can't imho be based on the results they have presented to date?

I am philosophical about the 70%, they've had a huge expenditure for free and it would have broken the small IPO IGO then was. Meanwhile they've build a strong little miner on the nickel, and built a pretty diverse and interesting exploration portfolio in which may yet lie a future tier one asset?

I am glad we are only going to have to fund 30% of Tropicana, as equity dilutions tends to destroy mining investments even in better times imho. and if they don't the debt alternative does.

One of the things cheering me up a lot about Moran is that I can see it adding enough extra free cash to ensure our debt burden for our 30% of Tropicana doesn't become too high or limit our ability to fund other opportunities.

Any of the other exploration look promising to you near term?

EL