that I sent to company.
Your email has been forwarded to me. Assuming that you own shares of Wildcat, as a fellow shareholder, I am also dissatisfied with Wildcat’s share price. However, we are continuing to explore while conserving cash and minimizing dilution. Our net cash expenditure rate has been significantly reduced, while drilling activity in 2013 will be at the highest levels in the company’s history as a result of deals with larger companies. Drilling is how discoveries are made, and we feel that achieving this without using our own cash is the right course for the current market environment. San Gold is currently carrying out an aggressive program with some 9,000 metres of drilling on Wildcat properties in the Rice Lake, MB gold camp, and our geologists agree with their targets. Drilling is expected to continue until spring (see news release February 27, 2013).
Our work in the Wildcat-Doe Run Canadian Exploration Alliance (see news release December 11, 2012) is laying the technical base for drilling on New Brunswick properties after spring breakup.
In addition, we have brought our Burntwood (gold, nickel targets) and Reed Lake (copper, zinc targets) properties to the drill stage with programs planned and permits in place, and we are looking for partners to advance them.
You mentioned pay, and our management’s commitment is reflected in their voluntary 50% pay reduction which started October 1, 2012