re: obtaining environmental clearance Bush is prepared to allow...

re: obtaining environmental clearance Bush is prepared to allow drilling for oil in Alaska. Plenty of wildlife in those parts...

"Frequent blackouts in California and skyrocketing gasoline prices point to an impending energy crisis.

In order to alleviate this emergency, President George W. Bush is advocating an increase in energy supply, rather than a decrease in demand. Bush is advocating tapping the oil supply at the Arctic National Wildlife Refuge in Northeast Alaska. Not surprisingly this is causing some backlash with environmental activists and the few inhabitants of the snow tundra. They argue that the available oil supply in the ANWR is not sufficient enough to justify the potential environmental damage."

If MTN can manage an upgrade in tonnage (almost sure to happen) and, in not too much time, to indicated then IMO we will see a rerating in spite of the enviornmental issues.

It's also worth bearing in mind that the market is valuing Mt Gee at very little at the mo, so these enviornmental concerns appear to be heavily discounted into the price.