Hi Neotrader:

I was wondering what happened to you as this Board's participation seems to have dried up.  I was reading from the May 30th, 2011 Fiscal Year end Report 2011.  If I misunderstood, then I stand corrected but the report did mention a series of two warrant offerings expiring this Spring 2012.  I'll look at it again.  By the way, what is your feelings about the sale of ANX's South American assets in exchange for the cash and the royalties?  I would like to know if they can pay-out/off by some means their NSR's left to them by New Island?  When New Island held the Pine Cove asset, it agreed to pay the property owners past and present at the time, a Net Smelter Royalty some of which has a cap or limit and another a long-life arrangement.  Wouldn't it be prudent and cheaper for ANX to try to negotiate a lump-sum payment with these land owners and end the NSR's before they eat up too much of the gross profits from the Pine Cove production?  Rambler just did it with their Ming Mine but their agreement had an option written into it allowing them to make a pay-off settlement with regard to the NSR's outstanding on production from the Ming Mine.