Hi Cabe,Yes. Agree. As I understand it there are a few tedious...

Hi Cabe,

Yes. Agree. As I understand it there are a few tedious tests that prompt a disclosure.

This is a bit boring. For example, if a material issue (that ‘seems’ permanent) became known, and the consequences of that issue might impair an asset or render it valueless, and there is ‘unlikely’ to be a feasible remedy of the underlying issue, then any Board of Directors would be obliged to;

1. Assess whether the issue ‘definitely’ could not (with time) be remedied, and

2. Test whether the issue ‘certainly’ does permanently impair the asset, and then

3. If confirmed, inform the market once firm determinations had been reached.

TBAR is currently an exploration tenement. It’s not a development asset and, until it is drilled and JORC’d (or Valmin), it is definitely not a measured resource asset.

Based on the above, any required disclosures about TBAR at this stage would be limited to ongoing efforts and timelines to begin developing the asset. Seems to me that management could not make any firm conclusion about the assets’ value at this stage.

Karan’s comments did not leave me with an idea that he felt he was facing an immovable obstacle. It seemed more like an undisclosed issue that was on his mind that he decided not to elaborate upon.

That is as far as I can reasonably go. If anyone else recalls anything it might help. Otherwise I need new meds.

AM74