Developing Bellechasse-­Timmins Gold Deposit

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Message: Warrants

thanks pam.

herb, we simply wont know how this will work out dilution wise until the 43-101 comes out. as it sits we are now about 12mil shares less "fully diluted" than we were last week. even though our SP is only about .17, if someone actually wanted millions of shares right now they would have to raise the bid substantially (based on the volume). i have no plans to sell my shares for .20 and i'm guessing the majority are in the same boat.

the one big drawback i saw to the warrants getting excersized is that even if the 43-101 was great we would have millions of shares in the money and being put on the ask (slowing the momentum of any upward move).

if the 43-101 is good then our next round of financing may not come in the form of a PP imo.

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