I phoned the company today as am a long time holder of shares...

I phoned the company today as am a long time holder of shares and bought options in the rights issue. Firstly I was informed by Nicholas Garling that they are in various discussions on the funds raising and are at most times not only now. He said that he is constantly taking calls from investors, holders and speaking to placement spruikers about capital issues. He said he sees it as part and parcel of a small company role such as his. He said many larger companies have expressed interest in Morning Star but at the wrong price. He said he has moved into the MCO role full time after initially expecting it was a 2 or 3 day per week role back in late 2006. Other long time directors have stood back apparently and he has the day to day running from Sydney with support at the mine. On the Waverly drilling project, he said while he cannot speak about specific drill results until such time as full assays are returned, Dr Peter Jackson (a fellow director) was running the program and it's been a long time favourite for the directors to pursue because of the prolific length of strike. He said the first 4 holes were not deep enough, striking old workings but #5 and #6 he couldn't be happier with. #6 is still in progress. He said Maxwells mining has been tough work and the rise has intersected a wider zone of stockworks that anticipated near Maxwell reef and the sub level was still being determined. He said stockpiling on surface with security was underway for a week or more. On the options, he noted that it's been a difficult market but said he felt the company was moving forward and noted the Ozzie price of gold as a positive for them. He's an engaging and relaxed personality and was heading down to the mine from Sydney tomorrow to meet press he said. He left me with no concerns and was clear that MCO want to be a fully fledged miner from multiple sources within the next couple of years. He said he has bought shares recently.