Dear Sir -

We acknowledge receipt of your email outlining your concerns about the recently announced transaction between the Company and Kinross, and in particular, the private placement being concluded as part of this transaction. Please be advised that we are currently reviewing this transaction in accordance with the rules set out in the TSX Company Manual.

We would also advise you to share these concerns with the Company since this transaction has been negotiated at arm’s length to Kinross which limits the scope of review of the TSX.

Best regards,


Martine Valcin
Directeur / Director
Services