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Message: Still Long and Encouraged.

Pic and Macod,

The picture is indeed Roger Clemens. Got himself messed up, but still a marvelous pitcher.

Macod, the goal may be a short term sale of the company, but I don't think so. Regardless if the goal is to sell, short term or longer term, if you get yourself in a position of having to sell by a certain time because you are running out of cash, your buyer knows that and the buyer can become like a vulture. SFMI would then be in a horrible position and nobody will come out well. The only way the seller (SFMI) can then come out well is if there is a bidding war. I haven't seen very many of those in the junior mining group lately. To me it is wise to operate as if there are no buyers and make decisions that are good for you long term and then when a buyer comes along, you can sell from a position of strength (I don't have to sell to you). I think that may be one reason PQ etc wanted to obtain so many shares so that he and family will be in a position to make the decision of sell or don't sell if a hostile offer comes in. Not we smaller shareholders that could overwhelm him with wanting to sell early at whatever the price just to make a short term profit or sell because we have lost confidence. I don't think he has ever lost confidence although he may have some sleepless nights of occasion. He and his family may have made some serious operational mistakes due to their unfamiliarity with the mining industry, but he seems to be a survivor, can alter his course, and keep the same ultimate goal. I am imputing my philosophy on him, but his goal appears to be coincidental with my goal. I'd love to have it happen sooner than later (sale or share price explosion), but I'd rather have it happen later than not at all.


Thanks again, Calfarmer

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