Email From RogerI sent Roger an email yesterday with a couple of questions and he was very quickly replied.
Below is 2 questions followed each, by Rogers answers.
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Hi Roger,
Great work going on at Kingsway. Exciting times ahead, for sure. The updates are steady now and that really helps keeping us shareholders in the loop.
There are a couple of questions I have that has a few of us curious. Wonder if you could clear them up.
First of all it's great to see Palisade on board. They know the area and I'm sure are licking their chops at the potential to their north.
So having them as backing is great from my perspective, but now we see Plethora is selling and right before drilling.
Is there some sort of internal conflict between these big 2 backers that you can share with us?
We are wondering if Palisades getting involved with us poses some sort of conflict that wasn't foreseen?
Plethora has been a long time shareholder and supporter of Labrador Gold, through good times and bad. While they have not told me why they are are selling, I assume that they saw an opportunity to take some money off the table and did it in a way that did not upset the market. They continue to be a shareholder and remain supportive of what we are doing. I do not believe there is any conflict between Palisades and Plethora, but rather see it as a business transaction that was in both of their best interests. i.e. Plethora wanting to take money off the table and Palisades wanting to increase their position. Note that this is my own interpretation, and neither party has discussed the transaction with me.
As I said in the original news release, we are very happy to have Palisades invest in LabGold and I believe it is a vote of confidence in what we are doing and the potential of the property.
Another question is that drilling was supposed to take place in the fall after the field work was complete so optimum targets could be identified.
Just wondering in the latest NR it was stated that a CSAMT program has begun.
Was this part of the originally planned field work prior to drilling or is this something new and does it effect the planned drilling date?
The CSAMT survey is something we added after the field work had begun. It is essentially a test survey to see if we can image the Appleton Fault Zone and associated structures at depth. We will certainly be drilling any targets it produces, but that will most likely be later in the drilling program. We do have other targets we can drill so the planned drilling date will not be affected.