Whaler,

Over the past four months, CIBC’s buy and sells are basically a wash.

May- June BUY 408,000 SELL 141,000

June- July 432,000 235,000

July- Aug 320,000 338,000

Aug-Sept 105,000 611,000

Total BUY and SELL 1265,000 1325,000 = Sold 60,000 shares more

In addition that some may think ISM’s share price is where it is at is an indication to what might be coming in the 43-101s, another reason may be the Companies refusal to release the details of the announced completion of the Metallurgical Report. The company has stated the Technical Report is complete. In my opinion, this is the most critical of all reports and will tell what ISM has or hasn’t. Could the hold up of releasing this report be a probable reason why ISM is trading down at this time?

Best

Nickel77