Baires: This is news. Did they say why they thought the PFS was so lousy?

I have for long thought it was the drilling strategy that was lousy for the past 3-4 years - especially the Big Sky which cost a lot and gave back nothing, and the huge risk taken, costs incurred, and the missed opportunity when DW stretched out the Clan Lake drilling into those new zones (which are interesting if you don;t care much about starting a mine) - instead of confirming and consolidating what he had already at Clan and the Ormsby/Nicholas Lake site. Sure these results may be useful in future, but scarce resources have to be used effectively when they are expended.

We have seen that there is a rich, very large sample of ore at Clan Lake which would certainly have generated a lot of excitement if the locality had been explored more fully and the results anything like what the region is famous for, but it never was explored. Instead we took a stab in the dark. We could be way ahead in our resource calculation without those frittering-away expenditures. What was that all about?

Clan Lake is going to be big when it gets going.

What else other than drilling results fundamentally can make a PFS lousy? The IR? My impression is it was the results not the spin.

Ike