He spent a couple of weeks in and around Toronto and Europe.  Mostly talking to Institutiions.  And it sounded like he was putting out small fires at every turn.  The Institutions are just as unhappy as the regular shareholder.  The big difference is, it is the institutions that seem to be the crux of the problem.

Institutuins change managers on a regular basis.  They also have " Sunset " clauses as to how long they can maintain a position.  So who are the main sellers.  They are.  Then add in the disenchated " Joe shareholder " and you end up with what we have.  A mess.

 

They also want to be there for the big turnaround.  BUT, they don't want to be the first to buy.  They want to see the trend set.  Then they will jump on board.  I don't see " Joe shareholder " being the catalyst to change things around.  

 

Sounded like David and the players had some spirited exchanges and David felt that in the end it was a very positive trip.  Even the so-called big players need their hand held at times.

 

At some point some outfit will get on board first.  Likely when the money starts to come in.  Then they will all start to try to squeeze through a very tight doorway.  THAT is when things get interesting.

 

There is still no definitive start up date.  It depends on Xstrata deciding Perserverance has run its course.  In the meantime they stockpile ore for the day it is needed.  YES, it has been a long wait.  We all know the old saw.  Location, Location, Locatioin.  Make that read Patience, Patience, Patience.  Your day will come.

 

Great time to be a buyer.

 

GLTA