principles, page-2

Hi Geiger

You're absolutely right about the potential for future dilution - it must happen in some manner in order to get the project up.

I think that the activity around the options deal was less than transparent although I am not sure about sleazy - that may yet transpire though. I didn't like it.

In the meantime the project is what it is and any value to come from it will occur so people should take advantage of that according to their investment strategy. I am like you in that my timeframe on this one is based on the short to medium activity and will be exiting on the back of a reasonable rise from here. Others will be looking towards the long term and want to build a position for when Copper Hill is ready to produce.

Whatever the strategy it is important that we all make our decisions on rational grounds towards our specific expectations.