KAT Exploration Inc (KATX)

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Kat Exploration Email conversation with Ken Stead, the CEO of Kat Exploration. I emailed him Wednesday, and he responded quickly. I think followed up with another email....here it is!

__________________________________________________________________
From: Matthew
Sent: Wednesday, January 27, 2010 1:08 PM
To: Ken Stead
Subject: Claims



Ken,

I am excited about the potential for Kat Exploration and where this company is headed. I was conducting some research and found something that I would like to ask you about. I understand that Vale has claimed some property around the Lucky property that is owned by Kat Exploration. I found that you also have a claim of land that is in your name and not Kat. Is this personal property that you own? With the potential JV inquiries that was brought up in today's PR, have you also considered offering this property which is in your name as well? Given the proximity to Lucky, would it not make sense?


Thank you for your time

Matthew
__________________________________________________________________

From: Ken Stead [mailto:[e-mail]]
Sent: Wednesday, January 27, 2010 12:33 PM
To: Matthew
Subject: RE: Claims

Matthew

This is the first time your question has come up and I’m sure glad you raised it as this was something that we didn’t give thought to explaining. However, from time to time you may see claims in my name as well as 2 of my brother’s names Tim Stead (Field Manager) and Melvin Stead ( prospector). The government gives genuine prospectors 30 claims each, every year for a cost of just $10/claim(but not companies)whereas it would cost a company(like Kat) $60/claim. Within our company files we have agreements drawn up stating that all 3 of us KEN, TIM & MILVIN can only stake these 30 claims each year in our names(to save the company money)as having to sign them over to Kat in the case of a JV. This amounts to 90 claims a year(for $10 each) that cost just $900, compared to 90 claims at $60, that would cost us $5400.

However, as a company we can stake as many claims as we wish. More news on that later.


Ken Stead
President / CEO

Kat Exploration Inc.
Office 709-368-9223
709-368-9224
Cell: 709-690-2908
Fax: [phone]
www.katexploration.com
[e-mail]

_________________________________________________________________
(The following email was sent today and Ken answered my questions with the bolded areas)

From: Matthew
Sent: Friday, January 29, 2010 10:43 AM
To: Ken Stead
Subject: RE: Claims

Ken,

Thank you for that explanation. It certainly makes sense to stake claims at a lower cost whenever possible. I do a few clarifying question concerning your response....are you saying that once you, Tim or Melvin have staked claims under your name, that you can then turn around and sign them over to Kat? Is this what you have done in the past as well? Or do you only sign them over to Kat when the possibility of a JV occurs. As soon as they are turned over to the company they become a $60 claim instead of the $10. If the claims turn out to be of no value they will never get a JV so it better left that way. If there is any interest at all in those claims then we sign them over immediately.


Finally, you the company can stake as many claims as it wishes and that news is to follow...does that mean Kat is actively looking for new property? Kat is always looking for good properties. But from here on in we are interested in properties that are more advanced than just the grass roots stage.


Thank you for your time and have a wonderful day!
January 29 at 8:33am · Report