Good morning;

I have not said a thing with regard to the RE. Not that my opinion matters a hill of beans, I will none-the-less, bore you with my own observations.

During the past year I criticized our CEO on several fronts and directly to his face at dinner at the PDAC last year. It wasn't, and isn't, personal. I truly like the man and have come to admire him. He took the comments I made in the manner they were offered, and didn't make it personal.......it wasn't meant, as such.

When you are prepared to criticize then you must also be prepared to offer props when they are earned. They have been earned IMO.

Heres why, from my prespective.

Frank is a nice guy. That can hurt you if you can't get past your nice-ness and make tough decisions. Tough decisions are rarely nice! Frank has done that.....with cetainty and without being a pr--k. He has recognized where the company was found wanting and has made the adjustments needed to shore that up. Kudos!

He has decentralized the management and brought on the people needed to get to the next level. The missed targets that happened last year have nothing to do with today. Today we are working towards a quatifying target and not a time target. Get that out of your head. First quarter results are for Finacials and not for determing the future of our program and SP. A good CEO sets goals for his team........he dosen't micro manage how they get there......... and if they are delivering the results to move the company forward, he can allow some latitude on time targets, if the evidence dictates he should do so. I believe this to be the case. If we are a few days or a week late, it should make no difference at this point if you are someone who has spent any real, honest time on your research.

Regardless of my criticism over the last year I sold less than a million shares on the way down. I still held a sizeable position and Frank did the right things to warrant my holding. I have also not bought until this past 10 days. I will now hold and wait for the end of the month. If the RE doesn't come out and you decide sell after the 1st of April, then I will own your shares under a certain $. I'm pretty sure I'm not alone in this. I would also watch out for a hard dump into the ask..........that'll be me scaring the sh-t out of any weak hands.

Locked, cocked and ready to rock

pc