Novo - Purdys Reward, page-54

Do you really think it's in Novo's best interest to help Artemis? I'm sure Novo would like to buy out the JV. What is it? 35 tenements including Purdy's which is known to contain a lot of gold? Novo paid a lot of money (over $2 million) for one-half of a 1% the Net Smelter Return at Comet Wells. What would 50% of Purdy's gold be worth to them when you see Novo paid $2 million for .005 of the Comet Wells gold?

There's been no explanation from management about what happened at Radio Hill. There's been no management Anns about when Radio Hill will be operational. I'm sure the market is looking at the Radio Hill fiasco and continuing silence about it as an indication that there are obstacles that can't be overcome because Artemis doesn't have the funds to fix the problems. If the gov'ts not happy with the tailings dams, Radio Hill will not open. Novo is watching this and is probably thinking that sooner or later Artemis Management will offer to sell the JV. It's now a race between the time Artemis runs out of money and the time a true value is placed on Purdy's - my guess is 50 cents per Artemis share. Novo's going to delay Anning something that will give a realistic valuation of Purdy's for as long as possible. I don't think Novo can delay it more than 6 months but that may be enough to force Artemis to the negotiation table at a disadvantage.