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Message: My absense

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My absense

posted on Oct 30, 08 09:39AM

With these markets I have been extremely busy, mostly hand holding.

CC went to Vanderhoof last week and reported a very good meeting with the mayor and also a mayoral candidate. Vanderhoof is behind us 100% infact CC said that "If Warren Robb (TTM) ran for mayor he would no doubt win".
They met with 4 first nations and they appear to be on track. In fact it really is coming down to some kind of compensation package/employment for the FN people.

Getting the final rules on the Share buyback program. Seems there is a discrepancy between the security commission's rules and those of the broker. This is being worked on. The reasons for the buyback are not based on upcoming events rather simply the board and Crichy believe the sp is way undervalued. Buy them back low and do a PP higher is the plan. With the buyback and the warrants that expire shortly our float will be extremely low.

The flow through money will be spent by the end of January.

No problems going forward with financing. But most likely we will cut back to two rigs. The 2 rigs remaining are the infilling rigs. Not because they hit dry holes just to prudently conserve cash. Less money needed less financing required at low levels.

Talks are still ongoing with the company of the used equipment.

When I think of more I will post it.

BBOB

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