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Friday, 12/24/2010 1:15:45 AM

Friday, December 24, 2010 1:15:45 AM

Post# of 233825
FWIW.. it is evident that this is now floating around the web.
I will try to post and recall my conversation with Ken as close that I can... Nothing was discussed that was not publicly known, or could be public knowledge with some DD, so this should be of no consequence to myself or Ken....

Today was my day off, got up a bit later to find a PR released by KATX, with excitement I logged into my trading platform on RBC direct investing, and found I was down 32%!
Picked up the phone, called KATX... The number that I called was from my confirmation slip that I recieved from RBC direct, and I now also notice it on thier website.... The number was written down on my ledger, but I didn't remember where I got it. It actually turns out to be a number to Ken's home office....I really wanted to call Jack to get the low down, but instead I got Ken.

Ken and I talked for a while about what was happening with the PPS...point form is how I will put this out.

-He released the PR not to state anything other than they found what they were looking for .... REE's! The most lucrative of finds in todays exploration. They were LOOKING FOR REE'S as they are most lucrative!
-The find is NOT of "mine-able" significance at the level the assayers analyzed, but nor was it supposed to be... They were really not expecting much of anything at this upper level.
-The delay wasn't due to the company not wanting to release info, the delay was due to no assayers who can detect "REE's" were unable to analyze the samples in a timely fashion. The company they use in the east was busy with "RUSH" orders... so they sent the top samples to Acme in Vancouver for analysis....(I personally know Acme)
- He said REE's are very rare, and all other precious metals are OK, but do not hold the attraction that REE's do.
- With China controlling 95%+ of REE's on the planet, whoever owns rights to them in North America will have significant strength.
- The REE's found at RR are extremely rare, and there are very, very few places on the earth that produce. No other locations in NFLD are known to have REE's,,,, and in North America it would be around a dozen ... if that.
- The REE's they found are in light concentrations, but, they found them and they are NOT found anywhere else.
- The play today on the market was BS,,, Ken was giving us a PR that shows REE's are found... He could have held off, but the relentless calls were beconing a response, so he decided to let the investors know that RR has REE's....
- He was actually very appologetic for releasing this news today, but he said his people were getting 100's calls per day forcing them to say something.... they did,, he didn't want to, but he thought the REE's would stimulate the PPS in a much better way.
- the company they generally use in ONtario told him he will have to wait for weeks longer (that is where the majority of the cores are)so they took the top layer and sent them to vancouver, who did them quickly.
- The market reaction today is very suspicious, and completely uncalled for. REE's are not known to drive down share price but boost them
- I think what we are seeing is people who wanted GOLD, COPPER, IRON, and got something they don't understand... something much more valuable REE's.
- We will get results in the next few weeks, and that is where the shit will hit the fan, if there is nothing,,, then we see what happened, but if they find concentrations, then watch out!
- They are already recieving interest on the REE's they have divulged, and I guess that is why they thought they better buy up all the land around.

Ken, if you read this, I hope that you understand that I need to make the investing community aware of what we discussed. Please take no disrespect, and correct anything that I may have stated incorrectly or inaproptiately. I am known to understate my information, so if I did, please correct me.

Everyone else on KATX board...what happened today IMO was the market telling us we didn't understand the PR... the board geo's are very correct in thier analysis... but they were only provided with less than 10% of the core analysis information that had not yet shown the mass anomally concentration results. We can only speculate on what the depths hold, hence I am holding.

GLTY.. Cheepo....

Well,,, who would have known?

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