In Commercial Production - Achieving Rapid Growth

Emerging Mid-Tier Gold Company - Timmins

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Message: shareholder value

That 2010 date is part of the deal. HOC can increase their ownership to 40% through aquisition in the open market but cannot sell or buy any more until 2010 (stand still). Timing is everything, and in this case, the 2010 date when the freeze is lifted, is when the mine and mill will be in full production. Them there guys at HOC are no dummies you know.

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