Binder: I agree that Clan is big and will be a mine one day, but WCX has some very intriguing properties as well in areas which have produced lots of gold in the past, and where there is infrastructure and relatively mild weather.

I don't say that this is the ultimate answer to all the problems of financing etc, by any means, but a bigger and more diverse company with more options is better than not. The chance of a big strike is larger, and there are economies of scale and reduced risk for those who might finance projects. Of course the terms of any arrangement are critical to us TDC shareholders, but there is no reason to think that either side is to be taken advantage of in favour of the other at this point.

This is how Seabridge started, with a number of projects, all obtained cheaply at the beginning of the gold boom, it turned out that out of all their properties Courageous Lake was the most viable and that was the one they went with first, now at 30 million ounces minimum. I am impressed with these guys on our team and I think they could make it work. Still, we don't know if that is the plan as yet, but it is exciting to consider. Ike