progress of deep hole, page-37

Hi RB,

Good discussion & valid points all round IMO.

Hill End is an interesting animal - very prospective ground & I thought a savvy move by them to issue the 25c options at a cost of 3c to existing holders (holders & company both happy!).... raised them $3M to get round the next couple of corners. I like options as an alternative - especially ones that are in the money. ....... now half a cent out of the money but another 14 months to go on those. Think it would not be a bad move by a number of companies to follow HEG's move at this time - not such a slaughtering move as has been the case with SBM.