BK, 

Glad to hear we agree on FNC, and, yes, certainly I would not sell NOT to buy FNC. Great minds think alike! Errr... At least on that point. :-) 

Let’s think about whose money WSR is actually spending – yours and that of other investors. 

Certainly they would not have made this deal with NOT if the ground did not offer some exploration potential. I am not saying the ground they acquired in this deal has no value or potential. 

Rather, I am saying that this ground will not be NOT's priority ground, or its A-grade stuff. This will be B-grade ground and it s precisely because WSR is connected to NOT that they get the 'privilege' of getting Richard's scraps on terms very favourable to NOT ... This ground is now the hottest exploration real state on the planet, bar none. 

I think you are probably too nice of a guy to appreciate how cut-throat the junior mining business is. Do not let Richard's genuine concern for investors and his mild-mannered demeanour fool you. Richard is playing the game, and playing it well. Nobody in the junior mining business options out their A-grade ground unless they have no choice, i.e., no money or resources to work it, which is not the case for NOT - trust me.

 I think this deal also bodes well regarding the age of the mineralized rock issue, i.e., whether the rock is  Proterzoic or Archean. If it’s the former, then it makes it much more likely that are other eagles have nested in the Ring of Fire Potential for more deposits, and presumably WSR would have been made aware of the results of this testing as part of the deal-making. 

At any rate, I could not be happier and more and impressed by this option agreement, as it demonstrates that NOT management is not only very adept at identifying prime exploration real estate, but also that they have the business savvy and shrewdness to deal with the 'big boys' once serious negotiations begin for DE. 

Regards,

B.