Ann: Annual Report to shareholders - Amended , page-11

They are doing a lot of exploration now and I believe they should continue down this path. As a consequence, drilling all this will cost money and the only way they can fund it in my opinion is through further dilution. Might aswell be through the OB's.

For example, here is some of the work planned before the end of the year - its not as if they are just going to wait until Barnes Hill returns revenue, they are going full on into the exploration.

This info is from the annual report:

Waterloo
Proto has also commenced ground EM surveys across the most promising anomalies to provide potential drill hole targets later in the year.

Wave Hill
Ground EM is underway to better define the target and Proto plans to drill this as a priority pending approval of the program for the latter half of 2011.

Linderman's Bore
These targets are being surveyed in September 2011 with a view to generating potential drill targets for later in 2011.

Doolgunna
The first field studies are now set to commence in the fourth quarter of 2011, and will comprise mapping and associated geochemical surveys.