Hello Luker.

Thanks for the information and the “Canadian Insider” link. Thanks for keeping on top of things. That’s more than I can say for our executive leadership.

#1) Most of the hundreds of institutions and financial firms and advisory and support people in the investment community never heard of Fancamp. That’s a fair and measureable accounting of the place you wind up in if (as a public-company leader) you disregard and disrespect the reforms your own shareholders layout for you.

#2) It is plainly evident Fancamp does not have a schedule to keep up regularly (in an accountable way) with any number of the targeted benefactors, in order (after beginning to talk) to establish true and dependable relationships.

#3) Apparently, we have nobody running the company who has the slightest concern with building up serious and continuing relationships with the investment and financial institutions (after establishing those—reportable—relationships in the first place).

#4) Evidently, no one at the top is aware of the deficiencies I just stated even exist (let alone will anybody be inspired to begin to address them). All my numerous letters, phone calls, promotional mailings, and emails to our Board of Directors have resulted in one substantive answer from one Board Member (who equated the BOD as “a snake pit”).

Of course, to a great extent, Dr. Smith’s purchase of shares deserves no comment because of its self-evident and self-explanatory nature. However, I cannot contain myself. There are those who may jump for joy at his having picked up his latest shares at a pittance. I am not one of those.

Dr. Smith’s abject refusal to respond in any fashion to the reform agenda of Shareholders for Accountability at Fancamp is a reliable measure of how we should think of his on-the-job performance and how we should think of why we are where we are today. The strength of his commitment to the shareholders can be measured in how much the 100,000 shares cost him.

Because it’s an indisputable and well-known fact, I don’t think I’m betraying any confidence when I state publicly what you’ve said to me privately (in-so-many-words) that “time is money.” As our opportunities are all the greater now (alongside Dr. Smith), so were our losses all the greater and all the more compounded (to date on paper) because some good dollars of our investment money over the years has been tied up and kept away from other opportunities that have come and gone (with the wind).

On the other hand, the mountain of world-class resources we have at Magpie is not about to be blown away. I venture to guess, shareholders who stand firm will learn our unmovable solid-as-rock mountain of resources will prove to have mountain-sized value, not subject to erosion for many years to come, notwithstanding the prevailing wind patterns.