Ann: Red October Commences Drilling at Yellowston, page-8

re: Ann: Red October Commences Drilling at Ye... Nani

I suggest you re-read all of my posts on ROS.

I have not said the SP will go up or down.

What I have said is the potential exists for the SP to go up if the combined effect of the JORC estimate and Silver project outweigh the effect of the CR.

I have also stated that I would be cautious (that doesnt mean everyone else has to be. It is my opinion only) that if the outcome of the JORC estimate is not as large as some expect then the affect of the CR could keep the SP at current levels or send it lower.

You cannot argue with either of those points. Until the announcement comes through no one knows exactly what the company is going to say unless they have inside information.

In regard to finding a company that has better projects that ROS please find a post where I have said they are not good projects. Such a post does not exist.

I repeat again for the second time, that until full details and the JORC is announced we do not know its full potential. I agree that if the original Russian estimates are correct then it doesnt matter how large the CR is because ROS will be significantly re-rated.