The ROF is the front page of Northern Ontario Business for May, and we are also front page of the web site for the release of our resource estamate. The more PR we get the more interest and the higher our sp will go.

We now have a confirmed world class deposit and now it is up to shareholders to decide what to do with it.

Lets not give it away.

I also talked to NN today I asked him about the outstanding warrents and under the R/S they would be reduced. I also asked him about Stock options and he said they would remain at 10% of the float.

He was surprised about the NR not getting out to all trading houses because he said it was released to many.

Where our conversation diverged was what he thinks CLF intends to do with SPQ and the Timing of the release of the R/S news. He thinks SPQ has a future I think its days are numbered. He talked at length about the discovery and I did ask him about why many of the Cr lower grades were excluded from the 43-101. His explanation was that many were not economic. He also thought the isolation of the ROF would not make it economic but I think when a rail line is built the ROF won't be isolated anymore..

In my opinion anything over 20% is economic and the plans are for an open pit so if you are going to be digging it out of the ground why not process it? Most of the deposits in the world are in this grade range and they seem to be making money so why not here?

rallard