Thanks to Nickelodians conversation with Richard Nemis late yesterday, we know "There are several companies he likes in the area including WSR ,FNC and FWR" We don't know why he likes them or why he didn't include SPQ, BMK and others. We had some news today on WSR agreeing to spend $20M over time to finalize the JV with Metalex. There are earlier JV's in place with BMK and NOT. So it seems WSR has lots of property but is going to be short of cash.

Currently there are 71M shares outstanding and with a sp of $.50 , which is a market cap of over $35M which is larger than a few companies (PRB and KWG) in the McFaulds Lake area . Obviously we have to anticipate some dilution as WSR raises some $20+M to fund its program. So how to play these companies that are buying into the ROF through JV's. It is in NOT's and BMK's and Metalex's interest to encourage development of their claims and retain 50% ownership. We have to assume that WSR got good claims with many anomalies, otherwise they wouldn't be investing the $20+millions required.

Some of the MCFaulds Lake board reuglars wouldn't touch this with a 10 foot or 100 foot pole because of the need to generate capital to proceed with drilling. As for me, I think it is worth a small investment because if they hit then the $20+Million is negligible. So I became a WSRer this morning. GLTA.