Ann: Lynn Lake high grade drill results, page-111

Hi Y4. I have a balanced view hear. When I mentioned about respect, it wasn't regarding opinions from you or others, just things were getting heated, both sides. Not so nice as 3rd party to it.

On your points, which are valid. This stock has lost a lot of money internally and shareholder wise on issues that has seen people down atleast 90% on there money.

I analysed the books. Here is what I see 37m of accumulated loses. This is there loss. So I'd assume outside this on shares issues investors have lost 50m atleast. So it's lost nearly 90m. You prob agree there.

What is concerning about the books is assets are 3.7m debts 656k and nett assets 3.1m. The issue here is 3.2m of the assets are carried exploration. Now if that exploration was written down they have neg assets.

So they need to materialise this project because accounting rules means it needs to be written off if they do not. They would have neg assets then. Insolvent.

What I also see is 1.3m reserves. They are limited to raising no more than there reserves.

Thats the bad stuff. The good stuff is the project is robust. It is a good resource. The key to there survival is unlocking its value or its over if they don't, the carried exploration has to be written down. If they do that exploration would be written down against profit from it and they OK. Its a real fine line.

On the project, they can not fund it into production, no money and can only raise 1.3m the reserves left. So they will need to sell it or get a partner to fund by buying a percentage. If they were smart they would sell maybe 20 or 30% with free carried exploration my another party to production stage.

On the price for people buying at 0.4 and 0.3 cents there is limited risk. The resource is worth more than there cap. They won't go bust yet as can raise 1 3m. But after that can not raise cap.

On the chart as I'm a chartist, it's very blocky and moves in pips, I normally don't touch stocks with this type od chart, I solely did because the resource is worth more than the Co with the view it could be bought by another for feedstock. The average vol most times is sub 10m daily trades, with over 2b shares. The trade is illiquid. Such low volumes can not move a stock.

So my view is good deposit, they need to prove it up and sell it. Cash received would be more than cap. If not in a year or two won't survive as need to write of exploration that creates neg assets. For new buyers there is close to no downside for the next 12 months. There is if they don't execute.