Bad news for today (economy at least) as the world markets are plunging. http://money.cnn.com/2008/10/08/news...

I looked into the Oslo exchange this morning as see a low of 5.85NOK = 1.05 CAN. It has come off of this low but the ripple effect will be felt for us I believe. Someone mentioned a 1.20 possible low point but I am not too sure anymore. Many great points have been made and a good one was concerning the possible share buyback (that it is much better to have the cash on hand in these times).

These gloomy times can challenge the most patient of investors. I am glad that the light at the end of the tunell is bright and apparently getting brighter. The unfortunate thing is that we have manipulation and we have the credit crisis. Both of these factors work against us. The posistives,however, are what I like. In an uncertain economy, it is always best to invest in companies that will be around after the turmoil. QEC had eliminated most of their debt and has cash to see them through to the end of 2009. It will not end up like other juniors, which will probably falter and possibly fail. The bonus is that one of these days a news release will inform us of better prospects. It is difficult for those that have watched 75% of their value in this stock dissapear but remember what happend in April - we had a very rapid appreciation in the sp. There is no reason to believe that this will not happen again. In short - despite all of the negative overall economic news, rememeber why you invested in QEC in the first place - because it is a company with a solid business plan/cash on hand/great prospects.

Johnyboy