Year-end financial statements and the MD&A were put up on SEDAR on April 15, 2011. I am a bit pressed for time these days, so won't post summaries or pertinent information here for now, other than this excerpt:
CORPORATE ACTIVITIES
During 2010 Wildcat carried out exploration work across its project portfolio and added properties with excellent exploration potential. Potentially significant litigation was settled in a satisfactory manner, the technical skill set of the Board was augmented with the appointment of a new director, a new investor relations firm was engaged and funds were raised to finance the Company’s operations through the year and going forward.
Drill programs on the Jeep and Poundmaker properties as well as geophysical and other work on other exploration projects is more fully described in the Exploration section of this MD&A.
During the first quarter, the litigation by a former executive claiming up to $13 million for defamation and wrongful dismissal was resolved with no payment to be made by either party. This matter had occupied Company resources since 2007 and the final result affirmed management’s view that the claims were without merit.
Also in the first quarter the option agreement on the Poundmaker property was extended by two months in exchange for a $50,000 payment to the Company. After year end the option was terminated because the optionee was unable to meet its exploration obligations under the agreement. Over the term of the agreement, Wildcat received cash and share payments totaling $475,000.
During the second quarter the Company’s geological team carried out a generative compilation and analysis project investigating the Uchi subprovince of which the Rice Lake greenstone belt comprises the western end, and which contains prolific gold camps including Red Lake and Pickle Lake. This work identified several target properties for investigation and the first acquisition under the program was the McVicar gold property, on which past drilling results and current structural analysis are encouraging.
At the Company’s Annual General Meeting in June, Edward Yarrow was elected to the Board, replacing Rob Dzisiak, who didn’t stand for re-election in order to devote time to his other business obligations. Ed Yarrow, who had recently retired as Vice President, Exploration, of Anglo American plc in charge of North America and Europe, brings extensive expertise and industry knowledge to Wildcat.
In the third quarter the Company signed a letter of intent with the Canadian exploration division of Anglo American plc which was followed up in early 2011 with a definitive agreement, whereby Wildcat acquired an option to receive a 100% interest in the Burntwood property in the Thompson nickel belt.
During the third and fourth quarters Wildcat raised gross proceeds of $2.4 million in three private placements to fund its operations during 2010 and beyond.
In the fourth quarter, CHF Investor Relations was retained to assist the Company to engage the investment community. The arrangements with CHF also provide the Company with the ability to utilize CHF’s market-making services in accordance with applicable regulations.
