exs thoughts.., page-9

asf, just a quick one. There is a big difference in the current market between cash in the bank and a receivable from a Chinese outfit. It is fair enough for such a receivable to be discounted until the cash is received given what has happened to some stocks recently (look at PLV for instance where the Chinese party kept changing the terms).

For instance, we have a receivable from Copperchem (i.e. the royalties) of 15m to 20m, but we don't include that in our cash-backing. If so, we would have cash-backing of over 20c per share.

I don't believe there is any need to flex muscles and buy up assets at any cost when we have a great portfolio to work with already. I do believe that the company needs to look at capital management a bit more closely however in the period before exploration results are available and consider a buy-back.

A buy-back of $5m of stock for instance would take almost 10% of the issued shares out of the market and won't put a huge dent in our cash balance.