Hi geo_newfie,
I am as near to certain as I can be with the information we have that all of this financial information relates to work already carried out at Handcamp last year, the majority of which was the Phase I drill program and some amount of which might well relate to the preparation for Phase II that we already knew had taken place. I do not think any new work that we do not know about has taken place on Handcamp or any other property. It's been fairly clear that the company has not had much money to spend in the past few months and I also think (just my opinion) that the results at Rusty Ridge were fairly average. If they did have money and was exploring one or more properties or if they had found something really exciting at Rusty I am sure they would have announced it. Why would they not?
That said, I also think that the share price has held up well in the last coule of months in the face of what appears to be a lull in progress whilst KAT Exploration seeks out further funding to move forwards, and this quiet confidence from investors will I believe serve KAT Exploration extremely well as a strong springboard when new investment is announced and the company starts exploring in 2011.
As I and others have said before, if they can get the funding then IMO the company would be best served by simplifying the corporate structure into one company (preferably off the Pinksheets) and focussing on core business - exploration of one or more properties - without getting sidetracked with fancy lawyers or complex structures etc.
Bickering about emails, photos, secretaries and who said what is a complete sidetrack. It's irrelevant. When we get some "proper" news then we will know where we are and it's my belief that the vast majority of KAT Exploration shareholders are quietly and patiently waiting to see what happens in the next few weeks.
The bottom line hasn't changed - if KAT can find some money and announce an exciting exploration program (hopefully including Handcamp PII and maybe exploring one or more other properties too) then I will be very happy.
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