Management hasn't given up, but they haven't got the drill results yet that would make believers. Very speculative. Look at it under $.50. There are a lot of other companies he would prefer. Not bullish on copper.
Haven't had any high-grade drill holes for some time. They've all been low grade or mediocre. He was copper is going to go over $4 a pound in the next 12 months. Well-financed.
Have a large resource that they are building but it is only the low-grade portion. They need a high-grade portion to the project. Haven't shown material volumes on the project. If we go to $4 copper, the stock will do better and could go over $1.
Copper prices have lifted the stock. Have a very large resource in Mexico. There is analyst coverage on it now. His view is that the resource is so big and it is leveraged to commodity prices and that copper will go over $4 a pound.
Rejected a hostile bid from Mercator (ML-T) but is still in play. Continuing to drill to provide better knowledge on the resource. Over the next one or two quarters, he expects there will be a number of bids and some time in Q2, Q3 of 08 it will be taken over.