Drilling Results, page-20

I think they had about $1.5m in the bank as at 30/9. The Dec Qs should be out very soon - today?

ALY is in an unusual situation. It sold gold tenements to NST (Hermes) last year and jv'd the rest of its gold tenements with NST. 2 years ago it entered into a farm-out with IGO in re its base metals tenements which after prelim investigation IGO decided to proceed, committing funds to exploration. Judging by the last report IGO will be in this for a long time. A jv should ensue.

All this means that ALY has no money to spend on exploration. NST and IGO are doing that for them. Gold with NST and base metals with IGO. ALY has been looking for an exploration play to spend the $1.5m.

As for a CR? Not in the near term imo, but read the Dec Qs and decide for yourself

NST owns 15% (about that anyway) of ALY.

Having connections with 2 progressive miners has to be a good thing. NST's 15% interest is not meaningless imo.

The MC of just $3.431m seems way too low to me.