I don't know why so many thing this is bad news. Rasing even one or two million, if it goes undersubscribed during these tough days in the Junior sectior, will take us past the permit stage next summer. I for one think that the BOD held off as long as they could, hoping to see some improvement in the market, but it did not come. They need money to continue the process towards permit.

Also good news is the big pullback in gold. We need it to come down 22% from the high, to begin the next wave up.

So going forward, we'll see gold price rising, some cash in the till at TDC to get to permit, and lots of cheap shares. We may even see a reverse stock split.

Yes, it may dip further from here during the PP runup, but it is our opportunity to participate. Even under the worst case, these shares are a good investment.

So while I would have preferred gold through $2,000 and tyhee on fire, it's not that time yet.

Hang in there, and hang on to your shares.

SKELLIG