I spoke with Geoff Balfe on Monday. He had just returned from...

I spoke with Geoff Balfe on Monday. He had just returned from Fortitude Lake Carey project. Their problems at the moment seems to be the time it’s taking to get assays as BHP had lobbed thousands of requests for their assays and this has slowed up the process.

I asked about Alaska and he said that the cost of drilling was astronomical and they were considering this project. As you can see their decision was to pull out and conserve their cash, very sensible I think. He must have been agonising over this as I spoke to him.

It seems that Fortitude is the focus at the moment and there was an air of excitement to what the next assays would show and soon to be released. He seemed very confident that this project will be a goer. Other projects in Qld. were also very prospective. The report just released shows they are a very responsible management and careful in their expenditure. In my mind a very good investment.