Well, to my mind, I've been very disappointed in the last minute delays by management with the BFS. They kicked the can down the road in 4th quarter 2010, summer 2011 (bumping it to the 3rd quarter), then again in third quarter 2011, then again in December 2011 calling for a first quarter 2012release. Then they delay again (announcement March 19, 2012). Prior to these "can-kicking" episodes, they were repeatedly saying everything was on time and on schedule - again at the AGM this summer where a bunch of us heard Elmer repeatedly say it.

If they knew things were way off schedule and kept to the party line saying "it's all good", we will never know for sure. Very hard to prove "intentions" and what someone knew or didnt know at a certain point. That's why I'm not accusing anyone of intentionally misleading, but it is definitely a question in my mind. We've all met BS'ers in our time and some are better at it than others.

The obvious reason to me to keep with the positive "we're on time" mesage is to not spook shareholders and see the price plummet. If someone had said in 4th quarter 2011 that hey, this thing won't be done until next August/September for review, I think a lot of people would have pulled out - I would have pulled out more for sure with that long a gap.

If management didn't know there were going to be big delays, then they obviously weren't on top of this project the way they should have been. We've been over this numerous times in numerous ways on the board... again, just disappointing to wonder for good reason if you've been played as the retail shareholder, but I'm starting to think that's the norm. I guess maybe mananagement could just be really, really bad at estimating and hitting deadlines. Again, we'll probably never know the whole story, and I'm sitting tight at this point because I'm stubborn.

We still have a good deposit and I can't see how we're not really undervalued right now unless the PFS 2008 was complete garbage. The word I hear on the street is that Galore is still way too expensive to build anytime soon (making us more attractive I would think), so let's get it done.

Cheers.