Another question for Management

Developing Processes For The Low-Cost Manufacturing Of High Purity Silicon Metals For Next-Generation Lithium-ion Batteries

Achieved final critical milestones, completing a successful silicon pour

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Another question for Management

posted on Jan 03, 2018 02:12PM

Bernard;

While I look forward to the answer on the 200 MT pilot plant, I have another question, if you'll entertain me for a moment.

As you and Patrick are surely aware, Uragold Bay resources (The former name of HPQ Silicon) went through a share consolidation back in 2012 with a float of 169 Million shares, while you and Patrick were at the helm.

As HPQ is currently sitting north of 183 Million shares, what forces would oblige management to consider doing another rollback?

Its getting harder and harder to move the SP with such a large float. Tax loss selling season is over, yet level 2 shows massive blocks on offer at 0.12 and 0.125.

TSX -V requires the SP to be over 0.05 in order to be able to continue issuing PP's and financing activities, including issuing shares for 'Consulting services' , promotion, communication, vendors, etc, etc.

I once asked you if you were considering dilution at 0.10c a share and you replied that you were very much opposed to dilluting at a ten cent price, and that the company didnt need to consider a PP at the time, because we were well financed. Yet a few months later, you announced a PP at $0.10 (november)

While I understand that the company must remain flexible with regards to financing activities, there will come a time, when dillution will force your hand.

I guess what Im asking for on this series of questions and facts, is what are your thoughts or positions regarding a consolidations considering the float is getting larger and larger?