Anyone remember that story of "The Ugly Duckling"? I think it was written by Hans Christian Andersen. Remember what the ugly duckling turned into?

SPQ with Neil Novak was the first into McFaulds. And it's got 300 million shares outstanding. Many think this equity is an ugly duckling because of this large number of shares. (I think Cisco has significantly more. Haven't looked lately. But I bet it does.)

Neil Novak is very methodical and exacting. Just because he doesn't issue an "all points bulletin" for an NR and shut down the TSX doesn't mean he's has three ugly drill holes. In fact, I'll put money on the fact that they are good. Perhaps very good.

Mr. Novak is like Messrs. Chislett & Verbiski of Voisey Bay fame. He wants to find a motherlode and drill it up professionally just like C & V. Deep down I think he wants to a) not get ripped off like C & V, and b) be the "prospector of the year" at a PDAC conference. He's got some pride like the rest of us.

So anyone getting in around 10 cents today, CONGRATULATIONS! Fabulous steal. Everyone selling sees "an ugly duckly": you folks see a swan.

Snug