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Message: If I told you we are going to have a NR tomorrow..

If I told you we are going to have a NR tomorrow..

posted on Jun 09, 2008 01:29PM

you would probably not believe me. But just look at today's news, thanks to the efforts of SLAMAN, his questions (in black)and Foleys responses in GREEN. In my opinion this is a NR if not better. I'm looking for more of this kind of news, as now we have a better idea of the direction we are going.

Thanks again Slaman.


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From Slaman:

I am posting the answers I received from Michael Foley:

1. Failed financial filing - reflects poorly on the confidence and transparency of the corporation. I am sure that Winfield has been working diligently on getting this resolved immediately, but I would like to know what caused the failure and what steps are being taken to ensure it will not occur again in the future.


There are no excuses for the late filing of the Audited Financial Statements. An independent CA will review all areas of this years audit process and make whatever recommendations are needed to fail-safe us from the reoccurrence of this fiasco.

2. Movement to the Venture Exchange - Given the positive developments, what is the action plan of Winfield Resources to transition back to the Venture Exchange and get exposure to a larger investment pool.


Management of the Company is reviewing all its options for greater exposure, greater liquidity and greater financing choices.


3. To alleviate concerns of re-clarifications and mis-statements, what formal documentation exists to support the "approval" and "decree" received by the recent Libyan development?


The original Ministry of Industry, Trade and Investment Decree and the Libyan Foreign Investment Board Approval Letter were both forwarded to the TSX Compliance and Disclosure department for their review, prior to June 6, 2008 News Release.


I have posted this letter on several public forums, as I do not feel these issues have been addressed and the shareholder community informed.

I look forward to your response and to more positive Winfield developments!


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