Apparently Interinvest and TDC management are working hard together on a plan, and some of us on the Board think DW is collaborating enthusiastically because he believes his ambitions will be fulfilled through this plan (i.e., through Black and Sonnenreich). What was promised to him do we think? I am assuming the project is more than viable - would in fact be very profitable - and the IRR will be great if the mine is developed, whatever happens. The options:

1) We (Interinvest) will enable you to build a mine: a) by maintaining TDC as a public company and helping you raise money in the market place to fund the studies, the permitting, and the mine. Cost: about $130 million give or take. (This cost is from memory. Correct me if this is wrong.) The current market value of TDC is about $26 million. b) We will buy up TDC ourselves at a premium to the current share price, finance all development, allow you to finish the project and maintain an important stake in it, and compensate you handsomely for your past efforts (and for losses on the shares you purchased, though this cannot be explicit).

2) We will sell the company, make some money, and try to negotiate as part of the sale that you and your staff get to develop the mine, if you are interested in doing that.

Best to all, Ike