Just got off the phone with Crichy

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BBOB72

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Just got off the phone with Crichy

posted on Jan 30, 2008 06:27AM

I asked him about being slightly disappointed by the market reaction to our last PR. He talked to his people and they felt the same way. He did mention and I totally agree that most have overlooked the fact that we are still open at depth, and the moly grades get better the deeper we go. Are they going to deep drill, not sure but if there is already 20 years of moly over 500m then there is not much haste to find out what really is down there at this time.

Drilling update: Currently we are infill drilling with the 2 rigs. I asked why are we not using the 3rd or even 4th rig if required? We are waiting for the IP survey results to come back from the lab. When they do they will analize the data and spot the 3rd rig and perhaps the fourth rig if needed. Results should be here anytime.

We have more assays at the lab as well. This will up our mineralization and tonnage.

We still have lots of cash likely somewhere around 13 million, we don't have a very fast burn rate. Also 3 weeks at x-mas break we paid nothing for drilling.

AFter the release of the 43-101(likely the end of next week)we change direction fast.
Crichy will go to Toronto to another show and meet again with sprott and others. Marketing will get pushed into high gear.

Watch for all media, newsletters/tv/radio etc. that is all retail. But meetings with institutions will IHMO help the share price along as they have to buy on the open market. Institutions are next...
We will be changing our distribution from retail.

I mentioned to Crichy, "hey you will have to grab your briefcase straighten your tie, and polish your shoes", he said yeah and I even bought a new suit!!! LOL

Upon the release of the 43-101 TTM as we know it will change forever. We will officially become a "proven resource"! That changes the game significantly. No longer a explorer/spec.

With the moly outlook in regards to price, supply, and demand we are arriving just in time. There was a comment made by someone at sprott who was very impressed at how quickly we got here. I think it was 13 months ago we drilled our first hole, and now a world class mineable resource. Hang on the ride will get faster yet.

There is nothing in our conversation today that even remotely questioned why I am in this to the extent that I am. It just grew a little bit stronger.

It may take a little time as Crichy said again he would entertain many offers as he was advised to do so to ensure he will not give this thing away. Why would he, Crichy has about 4.3 million shares at stake! If you remain long he will let us know when the time is right likely with a halt and PR. Although something could happen very suddenly?