I have been in boxed several times asking me about my attendance at the AGM. I actually did not attend as I am an Ontario resident and have been focussing my limited available time on Toronto based AGM’s and primarily on gold companies. I have posted before about the general seasonal cyclical nature of gold and now is the time to accumulate and in the early spring may reduce or sell those positions again.

Although I did not attend the AGM I have spoken with Mr. Dame including yesterday and asked him how it went. There were only about a dozen there with a good portion being staff. For those that have not attended an AGM for small cap companies attendance is usually small with staff typically outnumbering shareholders. There were a couple of shareholders though apparently asking the lion share of the questions, and I was hoping one of those individuals would use Stockhouse or Agora to post their comments but fully understand their reluctance.

All of the proposed resolutions were passed as far as I know but you can contact management to confirm this. Typically most small caps don’t post their AGM results however this is something I will suggest to management as a future practice. There was an overseas investor who flew in as their company representative a few days prior to the AGM and sat down afterwards with management to discuss the company activities. Although the current commitments have not been firmed up yet on the private placement Mr. Dame believes they will have at least 50 percent of the private placement filled and as much as 70 percent depending on the participation of one particular company to this point.

rich47