I'm a bit disappointed about the consolidation of shares, as everybody should. It is only the price we have to pay for not hitting the target!

But I find this NR somewaht positive however. The proposed reorganization of assets and name changes demonstrates that TBM's management has a strong will to get over the bad news and go ahead! Splitting the RoF and Non-RoF asset is something every company involved in the RoF should do - or should have done (Spider should have done that one year ago. KWG has advanced in this direction by creating DDI and CCC). I think this project is positive, and a good move. I kept all my TBM shares to date, and will maybe raise my position after the reorg.

BMK should have done that kind of reorganization also. FOr instance, they have a very promising JV with Virginia in Northern Quebec that would be at risk to be lost in a takeover transaction.

The lack of cash to fund the new play is perhaps a barrier to complete such splitting of assets. I do hope that TBM will prevail here.

GLTA.

BaBe.