Ann: Quarterly Activities Report and 5B for 30 Ju, page-5

re: Ann: Quarterly Activities Report and 5B f... I was one of the buyers this morning. Figured they would have a bit of cash in the kitty. Also picked up a bit of extra of my own work.

There is optimism in the Quarterly, but also an element genuine concern. Both Blade and Peak are looking for alternative financing to Cadloe if Viking drop the project. That does not give confidence to Cadloe, although it is prudent.

The cash is still an issue. It starts to become critical towards the end of the 3rd Q particularly if Blade have not announced finance to Cadloe has been secured.

So you buy in the weeks ahead at 1.1 - 1.3 cents, but knowing the cash at bank is running dry and there is the possibility of sp falling to say 0.8 cents in fear of a possible future CR.

And yes it was a well described & worded Ann.