Ann: Quarterly Activities Report, page-82

The Sept quarterly results for Blackham is encouraging. I like how they are able to increase their cash balance from their operations. Sale of non-core assets to raise further cash is also helpful in keeping this company afloat as it continues to work on developing their sulfide project stage 1. However, I think as we know the history of the company, they don't have a reliable record of sustained pleasant surprises. Thus, I am still in the "show me" stage. I bought a small stake for the share purchase plan more as a punt than because I think they are on a clear trajectory to better days ahead. I will await the December quarterly results before I can really conclude that there are more than just one swallow to try and confirm summer has begun.