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Gold/Mining/Energy : Nuvo Research Inc

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To: axial who wrote (9872)	6/21/2002 12:13:07 AM
From: Montana Wildhack	Read Replies (1) of 14101

Hi Jim, Thank you. I certainly agree with you that it was Paul Martin. Jean was instrumental in helping keep the hogs from the trough even though as you say he was finance minister during some of our worst years for spending. Mediocrity. What can you say? Or as the seconds pass, what was I saying? Not great so far. Touching below the 2 year low in late June with no UK at all now and quite a while since we've seen Dioptic revenue. Getting some resolution earlier would have been nice; but, I guess we're not going to do anything easily. We'd better do something important soon though. Cash needed over the next 18 months to Dec 31/03 I would estimate at around 42 million without spending on new product development (fungal and WF10). I'm betting operational expenses average $5 million per quarter over the next 6 quarters plus the next two installments of OXO (Nov 02/Nov 03) in Cdn funds. It's obvious by the stock price running out of gas that we can't keep going like this much longer period, let alone trying to raise anything near what's needed just to keep the ship afloat. Like I keep saying, this is the summer. Therefore it MUST be exciting no matter what side of the street we're shoveling from. I continue to believe in success and never had much hope we would be early. We have now passed 125 days since the inspection announcement. Not early but not late given that we don't really know what that is. Good news somewhere soon would be a good thing. Wolf

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