Ann: Drilling commences at Irvine Gold Prospect, page-9

Paul, I guess it depends on what they find with the drill. Theres 4000m of drilling underway at an average depth of 60m so 65 or so holes. The MV is still miniscule considering their assets but it really is about whether they find economic mineralization. If they don't its back to 3 or 4c, if they do it could be 20c or 40 or whatever? Newmarket Gold have a accelerated drill program happening close by where the have found gold on the East side of the Magdala Dome for the first time (their Stawell mine which has produced over 4 million ounces is on the West side). Interestingly, our geophys targets are much more extensive (IMO) than theirs but don't break surface so haven't been explored. We could end up with a small to medium mine (which would be nice) but we could also end up with 100% of a stonking multi million ounce find (which would be even nicer). The current SP and MV would still look pretty cheap in that situation. DYOR and good luck holders.