chart for t4p, page-11

practisingaccountant...

No easy answer to how to your question of how to understand drilling results, other than one simple word...

Experience.

What appear to be good results may well turn out bad depending on the project parametres...where is it relative to infrastructure, other potentially interested players, wat does t mean in a regional extent, are there contaminants or penalty elements, is the geology conducive to extraction (will there be metallurgy issues?), is the projectbig enough for a stand alone operation, if not refer to regional strategy, are the results isolated, or do they form part of a larger story, so on and so on...

Low grades with large tonage implications can be better then high grade with limited size potential.

The parameters here are endless...and one can only fully comprehend inherent value once all variables are calculated, one against the other.

To make things even ore difficult, we also hve th corporate influence to deal with...what impact does management have on te viability, or otherwise, of the project, are there relationships that might enhance, or indeed detract from the value being created with any given dicovery?

What about the register, who are the major shareholders, wha influence, positive or negative might they pose?

Are there any other potential issues, that may impact the value equation...what is the trading history of the stock, etc, etc...

So much to take in...in reality we will never have half of what we need to make a fully informed decision, but that is t be expected, as often the Company themselves do ot know what they have.

Welcome to the exciting, sometimes volatile, speculative end of the junior resources market, where fortunes are made and lost for all manner of reasons...some of which have absolutey nothing to do with what lies in the ground.

As for AQR near term...I am expectng it to consolodate at or about current levels before continuing upwards at some point, especially with a drilling program scheduled to start within weeks. If however 37c fails to hold, I cannot see management and/or their supporters simply watch on as the stock falls much below 32c and in the process, potentially killing off a clear path to much needed funding via the directors options being excercised.

This is the corporate slant I keep talking of...as I see it, the best outcome for all involved...directors and shareholders alike...is for funding to be sourced organically (from within), even at the expense of selling some new volume into the free-float.

Frankly, judging by previous trading patterns, it will not hurt to have a healthier available float.

Cheers!