#5 do nothing but advance the project over the next 6 months.... we have 11 months at the present burn rate..... but windfall burn rate will drop soon and thus some of these Jv's will be using oter peoples money driving value into NOT through their effors and their cash.

A company should never finance at the bottom... NOT financed at the op and got the wts exercised as well... Thus we have a very strong share structure at this time.... very little overhang.

I would be looking to offer a major first right of refusal for $25,000,000.... no shares, no wts, just the oportunity to be in the front of the line..

On another note... re Indicator of venture market sentiment.. Full disclosure.

Here are all the trades for T: PNP on 9/ 19/2008 involving broker 95.

2 Records Returned

Trades

	Exchange	Date	Price	Change	Volume	Buyer	Seller	Markers
	T	2008-09-19 11:24:57	1.19	0.00	200	95 Wolverton	1 Anonymous	K
	T	2008-09-19 11:24:57	1.19	0.00	19,800	95 Wolverton	79 CIBC	K

Thanks for filling my buy @ $1.19 buy CIBC and Annon

I figure the short has predominently been undertaken via annon... 2.5 million wil be a hard fill in this market at the bottom... If you own it, hold it... they will have to cover some time.

Why is Canada one of the few that has not acted on short selling.... obviously most politicians do not have investments in the market.... but the voters do... Remember Jim Flaherty's raid on trusts.