First Tidal Acquisition Corp T.AAA

Twit for your education

[bob--ten1]

Ubika Research on Feb 24, 2012

Farhad Abasov: We expect developments on several aspects. We continue drilling, as I mentioned earlier, on the rest of our property, mostly we’ve done some infill drilling on the western side and now we’re drilling on the eastern part. And we expect to release drill results as they come back to us from the lab. And in the first quarter we also plan to update our 43-101 report and any part of the feasibility study that is [completed] will be released to the market. In other words we’re not going to wait until the end of this year to release the entire feasibility study. So we’ll be updating the market on the test work that is being conducted as part of the feasibility study. We also plan to update the market on our debt-financing activity.

As I said, the interest seems to be tremendous, so hopefully in the next few weeks we’ll be able to update the market as to corporate strategies and what kind of organizations are going to support the project. Although obviously it’s going to take longer time to actually secure debt financing, we’ll keep the market posted as we move along. On the equity side and on the strategic or off take or supply side, the talks are heating up as well. So if anything is done in the next few weeks obviously we’ll announce it too. So we think that this year we’ll be able to not only transition from exploration to development, but also rapidly transition from development to the construction stage by the end of 2012.