RE:CB- CommentsWhats Pala Going to Do? I think both Senior Management (at least the ones with existing shares that have some skin in the game) and Pala will try to advance the project with minimal dilution of their existing holdings. I don't count management's options in this equation, since if more shares get issued, their option strike price will get adjusted lower to "keep them whole". Option holders have no skin in the anti-dilution game, whereas we shareholders do. I am not in favour of repricing options for this very reason. Nobody adjusted my average share cost downwards by 40%---why do it for optionholders? So---having gotten this gripe off my chest, I think Pala's (and our) wish is to avoid significant dilution will drive future financing events. For the underground mine, they need $125 my....and if my understanding of the recent Northern Miner article is correct, the company currently has about $20my in Cash (the Pala Loan) plus $100my from the Red Kite facility. In essence, if they quit the underground drilling and or pit drilling, they'd almost have enough funds for the underground only option...but I doubt that is their main plan since they are continuing with the drilling program. In many ways, the decision to start trying to drill off the high grade underground copper zones (currently open) reminds me a lot of what Robert Freidland did at Voiseys Bay in the run up to the bidding war by Falconbridge and Inco. Management is in a good position to get potential bidders enthused about the tonnage and grade upside "bluesky" potential of the underground deposit....its like putting lipstick on the pig as the saying goes. I am perhaps not as enthused about the connector zone drilling's purpose but its still a good program. If this drilling activity helps generate an acceptable bid for the company--the game is over. That is the primary plan. NCU will proceed with the underground only option if copper prices do not rebound to +$3 bucks or if no acceptable bids are received. If this is the case, then the company will wait it out till copper prices improve to the point better bids for the company are realized. And that's how I see this playing out. I have no idea re: timing just for the record. Cheers