Sorry for the delay.
Firstly I wanted to let you all know that Wes is open to phone calls from investors so I would suggest going through Amanda prior to making contact with Wes directly. He is open to shareholder calls as time allows.
I let him know that I was most appreciative of his time. He knows that I am a marketing guy from our last conversation. So I went directly with Investor relations questions at the start to get things off.
What is happening with the IR position?
Not being filled at this time. They have split the duties amongst staff and are managing to hold their heads above water for now. Wes believes they can manage well enough even at these conferences where they are presenters, without a skilled PR person. I had to disagree. He did mention that there is more interest in metals and investment opportunities arisng as he saw it out of Europe and Asia. I managed to inflect in the conversation that the Chinese especially were going to the ends of the earth after metals. He agreed. The upcoming Berlin conference should attract attention our way. But again without the promotion machine accompanying him on the trip, this will be a challenge. He might meed up with the Palladium Czars who are still trying to maintain control of Palladium stocks over there...who knows?
The recent PP announcement brings Dundee and David Goodman back for more shares, it's good to know they have been there even in the last go around. They seem to have some deep pockets to help out? And secondly, Dundees Sept. downgrade?
Wes did admit to wanting to do the deal at a more favorable price but they accepted it more so at $10M than as the originally at $6M. It gets cash flow up and opens things up for the winter/spring drill program.
IMO opinion the Dundee money and it's subsidiary shareholders are manuevering as well. It looks like more action is in the works per today's trading volume. Some jockeyeing for shares. They surely will change this rating before too long.
How many drills are turning?
4 drills. 2 deep drills at the Eagles Nest. 2 on regional targets The 2 regional drills have been quite active and testing targets and moving around to different locations.
I asked about any drill plans for the AT8 anomoly, which you can see they have tested by the map supplied in the recent AGM materials. Again he would only say that they are actively and orderly getting results from the current targets.
What about Christmas break?
The drills will be silent for 3 - 4 weeks. When they stop depends on where the drill bit is and when it is feasable to shut things down. So no specific date yet. New teams will be brought in after the break.
The good relations you have fostered with Webequie and Marten Falls seems to be blosoming. Have you approached the NAN First Nations yet?
He is pleased with the progress and partnership they have made with the FN and will bring the NAN into discussions with any developments to NOT claims in their respective area. Wes did indicate that it will be more of a burden on the proposed rail route. He also said that per their feasabilty assesment a road would be more than adequate to haul the ore and that is their focus.
It's proposed in the FA that you will be drawing power from the new diesel plant in Webequie, is this in agreement?
This is in the discussion phase. And they are supportive of the "modernization" this brings to the FN community with this new plant.
Asked about JJJ plans. - None at this time, not even auger drill or geochem work.
I made it a point to ask about pending assay backlogs? - They have improved the analysis methods , and it will pay off in the long run.
The burn rate will be considerably higher this winter season?
They expect to be inline with their forecasts, but again now have added flexibility with the new funding. Another drill team may be on order.
My impression of the overall discussion I was able to have with him was quite healthy, he was actively taking the time to discuss a few other details with me as well.
Im my opinion they are working under a much more sense of urgency, so results are immenent. Keep the faith.
You are welcome to PM any questions to me.
Cheers,
mynot
