QQ, thanks very much for your efforts and contribution. Great work!

Snezz, things are changing fast as they learn more about the McFuald's Lake area geology... With regards to your concerns about the PP, I admit it did have me puzzled concerning, particularly with regards to the timing, but you have to remember that its was only 6m shares and the cash it generates puts the company in a much stronger position. The issue of this PP is not as simple as it might first appear, and the more one thinks about it, the more one realizes all of the competing and/or opposing factors at play. 

Also, their burn rate has increased significantly in recent months, and I think the wolves were already starting to circle. Not to mention market conditions have also changed significantly within the past few months. Good management responds accordingly and makes sure the company is well protected and funded. A few months ago, we could not imagine needing more money for many months, but recently it has became apparent that we would. Who cares if we were wrong? What's important is that we now have the money! 

The bottom line, however, is this PP was strong vote of confidence, and in effect places a protective shield around our beloved NOT - the more cash they have the more they can continue operations and demonstrate the potential of the Ring of Fire as the percieve it, without risk of being forced into any undesirable situations. It may bring the friendly collection of major NOT shareholders closer to  51% in aggregate, but we do not know the subscribers yet, and I admit I have done the math, so this is just idlel speculation on my part.

Finally, the growing list of targets/properties cannot be tested without cash (more targets = need for more cash), and they are of no value until they are proven with the drill bit to be something... We need more money to expand operations and test more targets, which inturn will create more value for us shareholders by increasing market cap and forcing a much higher buyout in the long run. 

Just my thoughts, but in the final analysis, it was good move with little negative net impact for us shareholders, and with many postive implications. Remember, it was just 6 million shares, so what does that really change for us, whatever the timing?

Regards,

B.