Ann: 11.05.16 TSX Planned Listing , page-17

A coal JV might well come first, before oil or gas, and my guess would be with an Indian company, but China is obviously also scouring the world for coal supplies.

I'm presuming that CTP might seek to issue new shares specifically to meet demand from North American institutions and the investing public, and possibly to provide for minor holdings to be acquired by North American energy companies.

Although this will cause some dilution, we certainly need a substantial injection of cash, and whether we effectively dilute our holdings by way of a JV or JVs, or by way of issuing new shares to meet North American demand, the new cash will provide the means of progressing the three-pronged (or maybe five-pronged) development of our extensive tenements.

The cash would also assist CTP to employ the people with the relevant experience and ability to manage and develop those projects over which the company retains manager/operator status, and to fulfil CTPs responsibilities (and safeguard our interests) on any JVs where the partner is the operator..

Despite the usual negativity from the non-holders (or non-holder), I see this as another very positive move, and as another well-planned piece of the jigsaw.

There's none so blind as those who refuse to see. For those without self-imposed blinkers, the clues are there for all to grasp. You don't need to be a Rhodes Scholar to get the picture, or to know what JH meant when he said "The market just doesn't get it".