Kosmos,No, I do not know what their expectations are, and...

Kosmos,

No, I do not know what their expectations are, and haven't asked.

However, in the 4th Qtr report, they do say that:

"Syndicated’s objective is to generate sufficient resources at the Barbara project and at other prospects in close proximity to justify a stand-alone development. The Company considers that there is very good potential to achieve this goal."

And I think we may see some drill results from Barbara any day now.

They announced drilling began on June 2nd, and said that:

"Drill core currently being cut and sampled. Assay results expected to be received and reported in late-July to early August..."

SMD is a relatively small and 'speculative' holding for me. I am very confident, however, that they are worth well in excess of the EV of $3.5m they are currently trading at.

Cheers,

Y