A little burp about PP’s.

Now that we have the $$’s in place to qualify for 55% ownership of the McFauld’s properties I have been anxiously awaiting acknowledgment from KWG and CLF that all is in order and that UC has earned the privilege of ownership and OPERATORSHIP. I believe this moment will be the game changer for UC in the RoF.

From my perspective, the announcement of this event catapults UC into the RoF big league with CLF & NOT re; politics, infrastructure and future resource development. For instance, if CLF and KWG consider the Cu that we have 43-101’d as integral to the amortization of the railroad, then they may announce their intent to develop this resource on the same time line as the Chrome.

How ??? Perhaps mega $$$$ for in-field drilling around and under the existing Cu / Zn discoveries

Also, I do not know the format of the JV once this landmark achievement has been acknowledged, but let’s envision that all future investment follows the ratio of ownership. This would be 55% UC, 22.5% KWG and 22.5% CLF/SPQ. If CLF wants to ante up $20,000,000 for exploration and development of these land packages, then KWG must do the same, and UC must ante up almost $50,000,000. I don’t think that KWG or UC have the capability to raise that kind of cash but if they do …. WILD DILUTION !!!

If they don’t, perhaps we will see a friendly buy-out offer for the RoF 55% privilege by CLF for a small percentage of the PV of the known resources. Let’s say $37,000,000. I just made that number up, but I think it is realistic. If Jim does not come up with a bigger number, please wave the $37,000,000 flag as our (the shareholders) expectation when the action starts. I think that this is a decimal fraction of what those land packages are worth, but it equates to roughly $0.24/share which is all I need to forget about the lure of shiny bits in the muskeg.

While I am dreaming, maybe NOT would be interested in hogtying CLF by offering us $75,000,000 for our 55%. This is exactly what I think our 55% ownership / operatorship is worth.

The goal of doing nothing and waiting for La Yesca to finance the RoF is not realistic; something big is going happen this year on this front.

XTruck I call your Rickard’s Red and raise you one bottle of Jack Daniels and another of Yukon Jack. At $0.48 a share, I can afford both.

Aafab