Boring .... yep, but probably more frustrating than anything....

Boring .... yep, but probably more frustrating than anything.

Regarding a JV ... Possible? Absolutely, but getting a decent deal given our minnow position and early stage development will be tough going unless we want to sell all the work down the road for next to nothing.

My '"advice" to the boys in charge ...... Don't go down that road unless you have to. How many Spec miners sell 60-80% of their potential for a pittance only to watch it boom as soon as some serious drilling is undertaken.

Obviously we are going to suffer some dilution no matter what path so why not back the shareholders ...... I don't know how many shareholders we have on the register but I reckon most holding at this stage are stayers. Thinking outside the box, if the Company had say 5000 willing S/H's who were happy to donate $200 each, we immediately have $1 million dollars to fund a reasonable drilling campaign with NIL dilution!! Hell, I'm way over subscribed on this already; another $200 is peanuts!

Another alternative ...... the dreaded "Right Issue" ...... Bad idea? Why not offer an Options only Issue? ...... Cost of 1 cent per Long dated option with an exercise price of 3 or 4 cents ...... If only 2000 shareholders buy $500 worth each ....... $1 million available to get the ball rolling with no short term dilution. If they can get the SP moving the options will bring in another $3 million in funds down the track!

Only random thoughts above of course; I have no idea of the logistics of the process, but if Bill or Ross ring me tomorrow and ask for $200 ..... no problem!

PS I believe we still have some other short term low cost drilling ideas to try and locate the Primary source/s so its not desperation time, but I'd hate to see someone like Northern Star waltz in and give us $4 million for an 80% stake over the next 3 years .....
Two charts below. One is an old NST just before it went ballistic a few years back. The other is current LSR. If you were holding NST back then you'd probably have been feeling similar to now. A couple of drill holes can change a lot!