I honestly do not believe that Dundee´s intent was to look for a quick flip at the time they participated in the private placement. It was a later strategic decision to after to lighten their exposure to the junior sector. I would not fault Del for believing that Dundee was good for Premium at the time of the PP. I believe Placing Colin Jones on the board certainly was an indication that Dundee was looking towards the longer term when they participated in the PP.

If I am not mistaken, it was a logical reasoned decision not to dilute Premium even further with the completion of another PP before the expiry of the warrants. I cannot fault Del for that. No one knew that Dundee was going to dump their shares.

Looking forward, we will see how capable Del is. It is a buyer´s market and it will be very difficult to complete a deal with favorable terms for Premium´s existing shareholders.

Del should do his best to manage shareholders expectations in advance of any deal. I expect for many of the longs, the terms may not be seen a favorable.