Armstrong wrote: whats on the bal sheet ? are they cash pos ? what is next? are we ready to buy?

Well, according to the filings and presentations they have enough cash to continue through 2010, and possibly beyond. They do not have any cash flow that I have seen, so they are just burning through the cash at this point.

I expect that their drill program will continue, and eventually they will come up with a feasibility study which will be a determining factor in their future direction.

My opinion is that they are a takeout target in the future, but have a $400M stock valuation that will deter all but the largest mining companies. I do not expect any action here until gold goes above $1000./oz, and the feasibility study is published.