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Message: The industry wishes to lower the royalties down to 2%

Hey Rocco: I've followed the post trail by Tectol and yourself and must say there is a lot of factual info in it. The one thing that I think we are missing is that legislative enactment is a process that takes time and I really can't see the QC govt getting an "Act of Provincial Parliament" passed in the next six months or so...after which the province will need to enact a Regulation under the Act bywhich the RBQ or MEF will laydown the rules (procedures and guidelines and best industry practices) that the industry will need to follow. This may take more time than most people have envisioned.

The other thing...as we agree QC is a distinct society and as such has its own way of doing things. If they ever decide to divorce themselve from the ROC I can only compare it to a teenager leaving home...they will want this and that and eventually will be able to stand on their own but not without a lot of pain. That's the part that scares me...because the ROC will be footing the bill....imho

All that said i still think we have a very realistic opportunity to gain significant profits on this small cap spec but not in the short term. Dec 2nd being the cutoff date for recording corporate losses after which we will see what happens. I will add to my position again in December based on this and hope that the sp is still down. That should lower my average.

Anyway, it is what it is and the fundamentals haven't changed, only the political agenda...right Rocket.

egards, Foghorn

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