Ann: Irak Prospect Exploration Update , page-17

given the risk/reward i think QRL is not a bad punt...the problem i have with QRL is that their exploration is not aggressive enough...you need a little bit of geo luck to hit the right minerals but with 1 or 2 holes drilled in a given year this is not enough...the company must do more and do it quicker too IMO

i would be surprised if the latest hole came up with the economic porphyries, the odds are against it (although i do believe the deposits are there somewhere)

the company seems undercapitalised and out of their depth in managing the difficult PNG terrain (they need much more money and experienced PNG drilling crew with suitable equipment)

2 holes a year just don;t cut it

good luck to holders