All in my opinion, please do your own DD.

It is considered extremely bad form to release news in the period between when a Private Placement is announced and when it closes. The last thing the money guys want is something radically affecting the price during this period whether it be positive or negative.

For example, lets say you have a million plus with some broker at Canaccord. You decide you want a pice of the PP and put an expression of interest in to buy 100,000units. You see the stock is $2.65, and the deal is priced at $2.25 with a "sweetner" 1/2 warrant at $3. It's free money you figure. Well you're not the only one who likes free money and a couple of different firms are in on the deal, so you aren't getting your full allotment...you never do in these deals. So the next day your broker calls you and tells you your filled for 30,000units (shs). You're a little pissed because you thought your million with the broker would have more pull, but this happens on any popular deal so it comes as no shock...you suck it up.

Lets now suppose that the company puts out a barn burner news release before the deal closes. The stock jumps to $6. All you can think about is how your broker farked you out of a huge free gain. You call him back and make threats about pulling your account etc if he doesn't get you the fill you had asked for...

Lets say a bad NR comes out. You're a prick and you call your broker and tell him you've decided not to sign the subscriber agreement he's sent you and you're refusing delivery. Who is the broker going to sell shares to at $2.25 if the stocks down at a $1.50?

So like I said, it's considered extremely bad for a company to release news during this period. You will maybe see an exception in maybe 1 in a 1000 of all placements, its that rare.

That said my broker was screaming for the sub agreement back on Friday, so I assume this PP will close either later this week or Monday at the latest.

Lastly, that Pescod piece is a clever way for Canaccord to put out something on Canplats without actually putting something out on Canplats if you get my meaning. Interviewing someone who says something nice about our stock is a lot different than having one of your analsts issue a rec and report. I can't remember the exact rules in Canada, but I think they're similiar to those in the States where brokerage's can't put out a recommendations on a firms that they have done a financing during a defined quiet period (see below for official rule). It helps to prevent these brokerages from "putting lipstick on pigs" ...dumping their crap on the public.

Anyway you look at it I think we can expect an incredible increase in news flow starting next week. If I understand correctly that we are currently turning two RC and two diamond rigs I think we should expect 8 holes drilled weekly (1ea for the deeper diamond rigs and 3ea on the RC's). Meaning we could potentially be seeing up to 16 holes reported every two weeks come the end of February. For now lets hope to see an increase in size of the oxide zone which looks to be open for expansion to the north and east and if they feel like giving us a treat with a visual inspection of 400m of sulphides from the first deep hole all the better.

Exciting times,

Buck

"The rules bar a lead or co-managing underwriter from publishing a research report regarding a public company for 40 calendar days following an initial public offering, or from10 calendar days following a secondary offering. The rule provides two exceptions: (i) research can be published during these periods concerning the effects of "significant news or a significant event" on the subject company, if given prior authorization by the legal or compliance department; and (ii) research can be published regarding a secondary offering pursuant to Rule 139 of the Securities Act of 1933 if the company has "actively-traded securities" as defined in Regulation M under the Securities Exchange Act of 1934."