Ann: Exploration Update, page-33

I agree with the point posed in your devils advocacy! But isn't it equally wise for a MD and a BoD to both properly prosecute the use of funds and also keep the potential source of funds as engaged as possible. I certainly wouldn't want to invest in a business opportunity to subsequently find that the proponents have neglected to keep the capital markets adequately engaged and hence now can only source needed funds for ongoing exploration at massively higher dilution. Just as much as I wouldn't want to invest in a venture promoted by a snake-oil salesman.

I am not arguing against what management have done. More as to what they have neglected to do. Not a biggie for me as this type of behaviour is not uncommon in this neck of the markets. However, on this investor forum, I am railing against the false proposition that it is a binary option to either explore lean and mean or explore fat and bloated to keep the market informed. The best speccies (with the most supportive shareholders) that I have invested in have an MD that concludes each announcement with a lengthy attributed quote that pretty much sums it up for the lay investor. Any MD deserving to be leading a publicly listed company should be able to do this in an hour or two, without support staff. It is not like they are dropping announcements daily.

I think most of us are, or should be capable of doing our own independent validation of what the company tells us....but most people will need some lay language to help frame this verification.

Anyway, enough on this sideshow. Upon reflection, the company was just trying to reassure us that they have not been sitting there doing nothing, and that we should be happy with the progress (weather notwithstanding) as it is helping us methodically identify areas for targeted drilling. Essentially a grid pattern search and rescue still in progress and with some encouraging sightings that warrant further investigation. This approach being more effective than the previous mobs approach.

Cheers and looking forward to catch up at the next sign of movement.