Ann: Diamond Drilling Confirms and Extends High Grade Gold, page-8

The inferred resource numbers even based on what they know from the drilling thus far will be significantly higher than what they are now especially at BoD where original 20,600 ozs was to a relatively shallow depth, some 50 metres. The high grade shallow intercepts at Lena appears to have come as a very pleasant surprise and will be tested for down dip continuation in the next drilling round with the hope that the grades will underwrite a small pit on a higher higher resource number.

No its not Olympic Dam but as Eshmun says when you are drilling in a proven high grade gold system the chances of coming up with a company making intersection or two is high. Those new high grade intercepts at Lena maybe not company making but have to be very encouraging. Its a pity they don't have more money to fund a more extensive drilling program on the other hand what they have down is carefully tailored drilling to previous results so far from a scatter gun approach and a good use of limited funds.

In the end it is all about being able to profitably mine what you have found. RW believes right now they have a much better than 50/50 chance of a commercially viable operation at BoD/Lena. Further drilling should hopefully reduce the risks. Musgrave is a lot further down the path of a profitable operation than a number of its peers with much higher market caps and boom box promoters!

What they need is some new backers and maybe a new broker when the time comes to raise some more money as it will this year. Patersons haven't done much to support them.