As I am watching the markets, my sense is that there is a general change of mood to the positive, and stock markets worldwide are moving up. The downward pressure that has hammered the juniors is easing. On top of that, we have the rising interest in San Gold, our neighbour, and that is also affecting WEL in a positive way. A few weeks ago I could buy whatever I wanted at .03 -- now I can hardly get any at .04.

In view of this, the PP with flow-through shares at .05 is looking better and better all the time. Due to the tax credits associated with a flow-through, the equivalent cost of the shares works out to be about .027. It also provides the opportunity to buy a large chunk of shares without having to compete with a other buyers who are outbidding you. And, at these price levels (which are starting to disappear, IMO), it won't take much to create a double, triple, quadruple or more.

As such, I dropped off a subscription for another batch of flow-through shares this week. I spoke with John Knowles about it the next day and he confirmed that the PP is still open, and while no timing for closing it was given, my sense of it is that it could be closed soon, especially if a sizeable number of shares are taken by an additional buyer. Given the market mood change mentioned, I could see that happening at any time.

Sorry for being a bit quiet on this board for awhile -- I was trying to keep a low profile while accumulating a pile more shares at bargain prices. I think I am about done now, and ready for take-off.

NorthLion