Dear Old Joe,

You can keep complaining of the past and remind everyone of what happen all you want. The reality here is there will be no proxy war at this AGM. Trying to organise a movement as you wanted never materialized because there was no will for it. This lack of will means that current shareholders that control the game have not seen enough of Wes to determine how good he will be or they like him enough to let him do his job without impediment.

Now, I have heard rumors of Mr Warren not being happy about being cut out of the loop but to me, that is a good thing as we are all on an even playing field. Some of us keep digging for info but from everything I get, Wes and JJ have wrapped things up very tightly.

I believe Wes has done a good job so far. Since June 18th or so when he became CEO:

Our SP went from 0.60 to $1.80 ( up to $3.01 during P&D)

We have put 25M in our kitty with minimal dilution

We have added significant big names on our BoD and our Management

We have plugged a very leaky boat

We are promoting the company appropriatly and have attrated some very substantial institutional houses.

Promotion has included meeting over 40 investment houses (not counting this week), a luncheon, a BNN interview and now a cross country tour of investment houses.

If you call this his first 100 days in office, I think that is a great start. I am willing to give him another year to really find out what he can do!

Glorieux