Hello Tony.

You say, “Kinda vague regarding black horse.” Also you, “Wonder when they’ll announce the exact terms of the deal and what the ‘amended’ terms will consist of.”

To me, the language of the Press Release is more tortuous than “vague.” Granted, “tortuous” and “vague” have overlapping meanings. However, there’s a slight difference. And, in this instance, that slight difference has important implications.

After KWG’s meandering explanation of the KWG and Bold commitments, KWG does indeed, in conclusion, as-good-as confirm that it “intends” to live up to its side of the bargain. To keep its options to Black Horse (at Koper Lake) alive—by the December 30th deadline—KWG (in its own words) “must provide notice that it intends to make the $700,000 option payment due February 7.”

Belatedly, the Press Release itself not only affirms its intentions—but, in addition—in its concluding sentence, explains how it will raise the balance of the exploration money: “KWG has to date incurred $5.8 million of the $8.0 million required expenditure and is proceeding with a prospectus offering of securities to fund the additional work.”

I believe it’s fair to say that KWG would not be “proceeding with a prospectus offering of securities to fund” $2.2 million in Black Horse exploration if its intention were to default on its $700,000 option and hand Black Horse 100% back to Fancamp. At this point in time, “intention” is the key word (“must provide notice that it intends”). At this point in time, KWG’s “intention” couldn’t be clearer.

Naturally, we will all be better off after the check is deposited in the bank (and, before February 7th, the check clears). So far as KWG’s tortuous choice of words, they’re not the first company to use circumlocutory language for no good reason.

Of course, unmistakably affirmative words in the Press Release would have served us best. What’s wrong with, “KWG hereby provides notice that it intends to make the $700,000 option payment due February 7th”?

In any event, if KWG can raise the money—that’s the big if—I haven’t the slightest doubt what KWG intends to do with it. For that matter, I haven’t the slightest doubt that the “prospectus offering” itself will contain a statement that the money raised will be earmarked for Black Horse.