Fellow Board members.

Magpie - Peter snapped up the property when he saw that Soquiem let the claims lapse. Roo - you are correct about previous work being done.. matter of fact there is 50+ years of data including government surveys etc... the issue back in the 60's-80's was that the seperation of Iron ore from other metals - which in today's environment is NOT an issue according to Peter. Was this a lucky find - YES but not any luckier than McFaulds when peter picked the right claims offered to him by RN.

Peter sure can pick them properties... jury still out on whether he can monetize them for benefit of shareholders...

Fancamp undertook over the summer to compile all previous data and hired a geologist to work on the file... that 43-101 report is complete and will meet today's regulatory standards for a resource estimate once the two holes are drilled - by end of this or next week. Any savvy official would have used that info in a good market to communicate the true value of company and not be a one trick pony... trying to sell anything in this market is impossible.

What's the plan for Magpie? seems like management wants it to go public and current shareholders hopefully will be owners of that spun out public company... how much of the property will be owned is subject to valuations. will there be - jv partners or will Magpie do it's own work or will it be bought out... all unknowns

We should be hearing news on cores pulled from the holes on magpie in short order... end of next week at the latest.... rumours are 1st hole strike length is verrrrrrry long and black.. just the way you want it.

Anybody out there have contacts with analysts to call and ask peter about it... we do need some serious coverage - and please not Genuity -

We need to be proactive and help management along with good ideas...