I just spent a little time looking at the Circular again about the spin-out.There was some speculation that some of the recent inside selling may have been done to cash up Havilah.

For Havilah to be listed, one of the mininum requirements from the exchange is for it to have ~ $350,000 in its bank account. A PP will be done that will consist of 1.5 million flow through shares at .20 each, and 3 million shares at .10 each. This would amount to $600,000 being in the treasury as of startup, at least. Also keep in mind that these terms were written last sept/oct and it is made very clear in the circular that the terms and pricing can be altered due to market conditions at the time this PP is done.

So, maybe some of the inside selling was done to get this Havilah PP filled? If thats the case, then its ok with me to help get this show on the road. It also mentions in the circular that it was anticipated that the effective date would be around Nov28/11 (on page 20). If I understood the "effective date" right, this is why I thought our Havilah shares could have been issued as early as last fall. The link below is for stateside, but I am assuming that the same applies in Canada;

http://www.investopedia.com/terms/e/effectivedate.asp#axzz1nLgdl36w

So, if you take into consideration my previous post, this one, and the belief in our Peruvian properties, don,t we look severly undervalued right about now?

IMO