Resource Capital Gold Corp GDPEF

Positive updates and negative

[lmcbain]

On the negative side, there has just been a delisting / listing transfer of a junior company from the TSX to the TSX-V apparently only tied to the fact the company did not meet market capitalization requirements. Pure Nickel was granted a 120 day window to do something about their situation, but was unable to do so; we should be granted that same window of opportunity, if pressed. RI needs to make some changes in its market presence and needs to be doing so as soon as possible.

I have requested an update regarding whether or not Reliance has received any similar notifications from the exchange and will post any feedback I receive. I have been promised that we will not be late for the filing of the financials.

On the positive side, there has been recent movement by the Indonesian Government to improve the environment there with respect to private (and foreign) ownership / investment in the sector. Not much has been published as of yet in the way of details, but it will be interesting to see what all happens. Generally a positive for investment in the country though.

I have had limited feedback on the IBK front; however, there was not likely to be much.

Additionally, I have been pushing to find out why there has been no supporting news for the raise, as there certainly are updates to be issued. The company web site has also not been updated to include the most recent NRs, nor does it have a proper description of Anggrek (still refers more to Tanoyan).

There have been rumblings of progress being made down south, but that has been the case for long time with very little to show for it, so until "SOMETHING" actually becomes reality that remains little more than vapor.

IBK is a little over 1/2 way through their window of contractual agreement and are now a week or so past Labour Day as well; they should start making some progress "if" they are going to. I have suggested that the company execute the financing in tranches if / when they get sufficient commitments to do so and on that front we will have to wait and see how things progress.

That's it for now; have a good night all.

Salut,
Leigh McBain