Jean Lafleur emailed me twice today (and I emailed him in between). Because we never discussed publicizing his private remarks to me, I will not post them here (as I would not in anybody’s case). However, so you can tell, in a general way, how things are going, as follows is the message I sent him following his last message to me.

Hello Jean.

Shareholders for Accountability at Fancamp, as such, has always avoided making “the other components” you’ve brought up become its focus. That’s because there’s no unity of opinion concerning the job you’ve been doing. For what it’s worth, personally, I’m your strongest supporter. For what it’s worth—in spite of the fact many take issue with my belief you’re doing an excellent job—investors holding thirty million shares have chosen me to speak up for them.

How can that be? It’s because we’re unified concerning the most pressing reason our stock is so unreasonably depressed. We’re under the radar. That’s been the case for years, from well before the “seller’s market” (as you fairly put it). Other companies in the resource industry have been knocked down from what a year or two ago was a reasonable valuation.

Obviously, a clear distinction should be drawn between an event that has hit everyone compared to the fact that that event does not change the reality of our underlying value. Good market or bad market, our valuation in recent years, consistently, has been lower than low. When you take a valuation that’s already lower than low and take that valuation inconceivably still lower beyond belief, that’s something somebody should do something about (and fast, without patience, bad market or good market).

There are shareholders who are considering throwing in the towel (and some have already done so). I’m not one of them. So when you say “we need to be patient,” in the sense of staying in the game, I’m not leaving. But that kind of patience is different from the kind of patience that tells us all to sit around and do nothing. The idea of doing nothing because the environment is bad is a poisonous idea.

When you consider the general business world, it’s bad business to suspend your best sales tactics because of a downturn in the business cycle. If anything, during a cyclical downturn, it’s time to sharpen your sales tactics. Absolutely, it’s the worst time to refuse to even develop any sales tactics.

At this stage of Fancamp’s development, we’re still years away from profitably mining our physical assets. Naturally, because our cash flow is negative, our stock in trade is our stock itself. We cannot thrive by suspending basic business logic so far as promoting the thing we’re selling, namely our stock.

During a business slowdown, you don’t generate heavier sales traffic by leaving nobody to attend to your empty store. People will shop elsewhere.

There are things we can do. Instinctively—if not by other means—your actions tell me you already agree with me. You’ve been traveling all over the world promoting Fancamp in one way or the other. Even in your last message to me, you were not shy about asking me to recommend our stock. We should not be looking for reasons to disagree. All Shareholders for Accountability at Fancamp is looking to achieve is more converts to our cause.

So please read (or reread) our attached recommendations. Tell me how wholeheartedly you agree will all or part of them. I, for one, look forward to the day when you replace me as the Spokesman of Shareholders for Accountability at Fancamp.

Be well. Art.