Intl Northair Mines Ltd INNHF

RE:production

[production05]

Hey Pointguard, I have no views on the new people. Hopefully they can move both the project and share price in a positive direction. The financing announcement is very disappointing, on many fronts. Firstly, it`s a kick in the groin for all the long suffering (loyal) shareholders of this company. Secondly, it is one thing to do a financing (when they recently sold off the NSR cheaply to recapitalize the company and avoid a cheap share dilution), but to do a $.10 financing (near a 4 year low price) when the precious metals market is about to turn around is simply unbelievable. Thirdly, it is unfortunate that the cheap dilution had to be 60 million shares (30M common and 30M warrants). Not only are the new investors getting cheap $.10 shares, but they are getting cheap full warrants instead of half warrants or no warrants. Pointguard, your comment with regards to Coeur was the same as my initial thought when I saw the NR. I immediately wondered if this was a defensive move due to Northair being vulnerable to a lowball takeover offer from Coeur, which would completely wipe out the huge exponential upside return on investment (from this project) for us small time retail investors. As you may know, this was a big concern of mine over the past year. This perhaps has become more magnified by all parties now that Coeur`s La Preciosa is now officially on hold (I believe I saw a headline this past week). I looked for any type of public documentation that hints to Coeur having the right to match to participate in future equity financing to maintain their 20% ownership of the company, but I haven`t seen anything thus far. Something could still be out there, but I haven`t seen anything. If Coeur is not able to participate then this might be a key reason to this otherwise terrible financing. We will have to wait and see if they participate or not. If Northair executed modest drilling programs and held back on studies (PEA, feasibilities, etc.) I believe they had sufficient working capital on hand to last well into the future (until better days arrive in the precious metals space). This financing at this time and at this price makes absolutely no sense to me, unless it is a defensive move of some kind.