I actually started this yesterday at 4pm then the other half started talking to me and I lost all train of thought, those of you who have been married for a while will understand.

Some scenarios

On the topic of the PP I concur with those who have said it is not needed at this time, however waiting until it is needed is not the way these things usually work. Having been part of these in the past normally what will happen is the large shareholders will expect, for their continued support, an increased holding to offset the reduced share value and they will want this at a very low price. Our share value is floating between 80-1.00 in order for the BOD to attract $$ they will need to float this out at between 60-75, and I would expect it will be for between 30-50mill shares. It wouldn't surprise me to see this happen fairly soon. Once that is accomplished and the deal is closed I would expect to see a rise in the share value maybe to $3-$4, that would probably take about six months and assuming we don't have any positive drill results in that time frame then expect to see another slow decline as those shares start to be offloaded.If on the other hand the drill and assays can find more high values of Ni/Cu we should see the demand increase and the stronger push by the larger sharholders to offload a portion of the company to a major, at what price would be anybody's guess. If on the other hand it takes longer than they anticipate to find the motherlode and the sp does come down then be prepared for the old reverse split.

Windfall

Of greater concern to me as a shareholder is going to be what happens to the $$ they get when Windfall is heaved off. Lets assume they get $100mil for it. That money goes straight into the treasury. Do you think for one minute that the sharks are not going to want a piece of that. What would be of interest is if they would declare a special shareholder dividend, that way we would all get something. But I doubt that will happen. Rosseau has already said they want to consolidate as many of the holdings in McFaulds as possible. So lets assume that they decide to acquire some key holdings, some that come to mind, FNC,BMK,SPQ,TME,FWR,PRB, all companies whose stocks are at extemely low prices. If you were to check on who has majority shares in these companies you would probably see the same groups of institutional and individuals showing up . If NOT uses their money from Windfall to acquire these others then those shareholders get a greater piece of the $100mill and the small retail holder gets screwed one more time.

I'm probably paranoid but I've seen it happen so many times and do you think that these guys can't smell what is really at stake at McFaulds. Potentially one of the greatest consolidations of ores in NA , they know that a major wants this, they know that a major would prefer to deal with one group and most importantly they know the in situ value of the ore.

We ( the small shareholders)need to be extremely vigilant to ensure that we do not get too badly screwed over. Sure the new BOD have to be given every opportunity to move the sp upward. However it would be wise for us to have an ear at those board discussions. I applaud Glorieux's suggestion and Nemis would be a great representative for us, only problem is that he doesn't have a vote and maybe we need to look at that. Do I trust the new BOD to do whats right for all shareholders, maybe. Do I trust Irwin and his reps on the BOD of course not and all he needs is one other director to swing his way for us to be royally screwed.

Please excuse the ramble but bottom line for our family is going to be vigilance we all have too much at stake here to allow it to be stolen from under us.

GLTA

Joe

ps where is John Defur he was always so active on numerous Mcfaulds boards and now he's MIA?? I sure would also like to hear from sharewizard as to his take on whats been happening.