Next Drilling Report, page-17

Speckman,
I agree with you that you're not doing shareholders any favours saying you expect results mid-Dec. and then nothing. They should be honest and open. They've already found plenty and that takes the pressure off to some degree. We're all adults, we understand sometimes you miss the target. If the results have just been delayed, communicate it because otherwise you're creating this situation where people are speculating as to what's happened.

As for the POG, I would say sure it's not important at the moment. It's more about where it's headed. Right now, no one really knows where the price is headed so sure it will have no impact. A month or two back, when POG was capitulating it would have an impact on prospective buyers. If POG at $2000US and flying, ERM and all other Goldies would be trading at multiples of today's prices.

Anyway, you're right in the sense that POG would be immaterial when you have holders like Noontide happily selling down to buy more, or taking profits as they did recently.