I expect an announcement this quarter. I am hearing that CNJ...

I expect an announcement this quarter.

I am hearing that CNJ will concentrate 100% now on Mestersvig (which is what I have already suggested they do).

Furthermore, I believe that they will go things alone at Mestersvig and thus try and retain 100% ownership.

This means that that CNJ will not be drilling at all at Ryberg this year. Rather, they will be looking for a JV partner to do all the heavy lifting at Ryberg, where CNJ will be free carry.

Quite simply, last season, by drilling at both Ryberg and at Mestersvig, CNJ bit off far more than they could chew i.e. they stretched both their personal and financial resources to the limit. This is a high risk strategy at the best of times!

The outcome was that at both tenements, in part due to the very changeable weather (in heavy fog the helicopter simply couldn’t fly) and in part due to a plain old fashioned strike by the Canadian drilling crew, even less progress was made at both tenements.

By concentrating solely on Mestersvig this year, and using their own hand picked crew and wholly owned drill rigs, I would therefore suggest that CNJ will make far more progress this year.

I hope this answers your questions.