Timmins & Beardmore - Northern Ontario

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Message: Nigel, Patrick and Yamana Gold.

Jerry ,I owned Yamana years ago and I can remember that it wasn't doing well at the time and I sold it when a reverse split was announced . The shares were consolidated at something like 15 old for 1 new. This is a problem that is seen over and over again when a company has too many shares outstanding at a low price.

In the case of Sage, ther isn't really a huge # of shares outstanding at 145 million, but if they were to do a reverse split at say 1 for 5 you would have a companywith 29 million shares outstanding and a sp of around $1.10. This would be better for doing any future fund raisings but not the best for current shareholders. Rico

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