TER: It just came out with a new reserve estimate on West Hazel. Was it what you expected?
BM: It's a really good number. The problem is trying to figure out what it is worth. Aroway has made money. It is cash flow positive. It has good management that does what it says it will do. With the market and the juniors getting creamed so badly over the past two weeks, Aroway stock has lost about one-third of its value. I expect Aroway to be $0.60–1.00 in three to six months. The current price is simply irrational. Canada remains one of the best environments for investment. The Canadian banks are a lot saner than banks elsewhere. Taxation is not totally out of control.