oversold?, page-15

When I rang executive director JH last week, he did say as mentioned in the quarterly activities report which came out that very same day that a decision on whether the option to acquire the project would be extended or not would occur within the "next four weeks" and that it was in the vendor's interest for the option to be extended. Also he mentioned about the co. looking for a second project possibly in the metullurgical coal area and in Canada. The full feasability study has not yet been released to them and the decision to suspend project became clear based on preliminary figures that were showed to them and that they could not do any extra tweaking than that which had already been done and that what they needed would have to be some more favorable combination of extra tons, better USD/CAD exchange rate and higher thermal coal price. I was planning to stick it out as I thought it was quite possible that a positive announcement would come out within the next four weeks. After the last few days I felt I had no choice but to to head for the exit door (hand sizzled) but looking at other overseas resource project companies. This is FYI only to those observing today's activity as am I.