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To: Claude Cormier who wrote (220187)	8/25/2012 2:24:01 PM
From: loantech	Respond to of 313662

I e mailed a VP of HL that I am in contact with frequently the last few years and here is what he said about WS: <Very difficult metallurgy with that deposit. While it can be solved, it comes at a cost and is with risk. If it was simple, it would be in production. It used to be known as the Hardshell deposit.....implying the important silver minerals are surrounded by lots of quartz and other material that make it difficult to liberate the ore. There is a strong 'stock' group that has a good stake on the company, I suspect there is also a newsletter person fanning the flames leading to above average market moves.> I will look at Sabina He also said he was not concerned about landing USA, that it has some problems and they would take it but would not overpay. I will refrain from the other stuff he said as we have USA holders.

To: Claude Cormier who wrote (220187)	8/25/2012 2:25:07 PM
From: Threshold	Read Replies (3) \| Respond to of 313662

Claude that's an interesting comment. Do you see something with Sabina's properties up north that would provide much better economics than Newmont's abandoned Hope Bay operations (ex Miramar) and AEM's abandoned Meadowbank operations (formerly Committe Bay if i remember correctly) up in the same area? Sure the Hackett River silver royalty is significant if Xtrata eventually gets it into production, but that's not going to mean much if the Back River gold project can't be a lot more profitable than the Newmont and AEM ops.