JJ,

Uber-Longs should not be concerned of any CTO if they are convinced that it is in their best interest to stick to the end of ICSID Award, and beyond until collection of such award.

It appears Res' concern/warning is that the MCTO, which applies to insiders (and seems just for show), is likely to become a general cease trade order, where stockholders become stuckholders for an extended period, because (from 12-203) of the following...

Issuers satisfying all of the following criteria are usually eligible for an MCTO:

• The outstanding filings will be filed as soon as they are available and within a reasonable period. In most cases, we expect this to be within two months. However, in exceptional circumstances, as determined by the PR, we may permit an issuer to take longer than two months to address the default.
• The issuer is generating revenue from its principal business or, if it is in the development stage, the issuer is actively pursuing the development of its products or properties.
• The issuer has the necessary financial and human resources, including a reasonable number of directors and officers in place, to address the default in a timely and effective manner and comply with all other continuous disclosure requirements (other than requirements reasonably linked to the specified default) for the duration of the default.
• The issuer's securities are listed on a Canadian stock exchange and there is an active, liquid market for those securities. Thinly traded issuers will generally not be considered eligible for an MCTO.
• The issuer is not on the defaulting reporting issuer list in any CSA jurisdiction for any reason other than the failure to comply with the specified requirement (and any other requirement that is reasonably linked to the specified requirement).

The fourth bullet is a concern. The second bullet may also be a concern, although the recent change in the company disclaimer at the end of their PR's might be their justification. One would think that a PR would be on order to commons as material if the company is indeed, "aquiring, exploring, developing, operating," mining properties elsewhere in the world.

The company not making a timely annual filing is suspicious. What is there to hide? Should be a piece-o'-cake... without income, only spending is itemized. Or, maybe the spending habits want to be hidden from commons... Not getting a good feeling about all of this.