KAT Exploration Inc (KATX)

[geo_newfie]

Hi Rick,

Overall I agree with your assumptions, but with funds being allocated to two different license #, then KATX is telling the NL government that they had these expenditures on the surrounding area. Several choices for this:

1. some of the original work was outside the 011745M block, thus put on the 17308M block'

2. they are double dipping with expenditures on one block and claiming on the other;

3. some phase II work has been done to the tune of $80K.

However, no matter how you slice it, the $80K cannot include drilling, unless they used a hand auger and a LOT of labour! Or maybe the drill crew donated their time??? ;)

Agree with you 1000% on the side show bickering.... too tiring to even comment on...