salebury exploration update ..., page-5

yep, no-one seems to care at the moment, but the good news is that everything is still on track.

What we now have is a Mt Colin resource that we know Xstrata want and will buy at some point. Currently drilling there to increase the resource.

We have a Kangaroo Rat resource packaged up ready to sell to CopperChem or Xstrata. Don't be surprised if that gets upgraded soon.

And now we will soon see a Salebury resource that will be similarly packaged up.

These are 3 decent assets that will all be monetised in the near future and that have absolutely zero value ascribed to them.

Then there is drilling on our Tier 1 targets progressing or about to commence. Not to mention our ongoing cash flows - another 6 months of royalty is due to us next quarter.

And above all in the current market, we have 60m of cash free to make acquisitions or buy-back shares (I assure you management have considered this option). Given the way some of the small resource stocks are heading, you cannot underestimate the power of a 60m war chest. The longer we wait, the more opportunities will come.

Very solid position!