federal land drilling permit

Hi everyone,

I am as excitied about the potential multiples we may see in time with the SP of TRH, if the story continues to develop well.... on a peer MC comparison basis, it is not a stretch to envisage a SP around $5 or more down the track.

I suppose however, the biggest question is whether the BLM will grant permission for TRH to drill the federal leases. I think this is a bigger question than who is going to help TRH raise the approx $2 billion to develop the total resource.

All I have are questions at this stage for the team here to discuss if you feel like doing so;

* Will the BLM ever grant federal land drilling permits ?
* If yes, when ? .... 6 months, 12 months, 6 years ?
* What benefit is to be gained by the BLM holding back the approval ?
* The state land drilling now underway accounts for about 10% of the total resource ... is that enough to justify mine construction, even a scaled down $2 billion portion ?

I suppose confirmation from the current drilling on state land program, correlating with historic oil drilling intercepts will lift the SP higher - around $2 maybe, but I can't see $5 just on this 10% total resource basis would be justified ..... only federal land drilling approval can lift the SP toawrds $5 IMHO.

What do you guys think ?