Dec 18/08 -The C permit is valid for a two year period from when it is activated by commencement of drilling the first hole, which must be done within one year from issue of the C permit. Drilling permits in Peru can normally be modified as the work program proceeds to allow for time extensions and changes in planned work details, subject to approval of the Peruvian Ministry of Energy and Mines.

how do we know the company will actually be able to drill a hole before this long awaited for permit won't even be valid any more? sure they raised 500k recently but after management salaries and all that sort of stuff will they be able to afford to drill a hole? and even if they could pay for 1 or 2 holes who is going to want a drilling contract with a company that can't afford it?