I bring good news.

Two days ago, GEL was granted six exploration permits, all in Otago, mostly placer type areas. The total area is about 250km2 or 25,000Ha.

The permit names are
Argyle (EP53174)
Ida (EP53180)
West Dunstan (EP53185)
Sparrowhawk (EP53189)
Fruid Burn (EP53190)
Lee Stream (EP53229)

The time available for having a look is 4 or 5 years. Sparrowhawk looks to be immediately useful, being mentioned in despatches.

The normal procedure is to carve out a mining permit from within the EP areas, and some of these will be prospective spots for the GRUs.

No word yet on how the capital raising is going. I assume there is a bit of a shortfall in the bank account to pay the next instalment to Bob Kilgour. If the warrants are not picked up at C35c in big enough numbers, they'll have to do a private placement. Going on past history there will be a sweet deal for investors who put up their hands and take on the risk.

Although with the GRUs getting into full action and no shortage of areas to work over, I don't think there is much risk at all. Can't supply numbers yet with any accuracy, but if L&M mining could use the GRU#1 for over a year (24/7 under lights), then so can GEL. And that's just one GRU, there are three in use.

So in the next little while, we should see the GEL website being updated in the placer area and the permit tables. I'll try to keep an eye on that.