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Message: VEN

VEN

posted on May 28, 2009 05:14PM

Last time I mentioned VEN I wrote about how I thought the deposit was over 5million high grade ounces and growing. The only worry I had was the amount of selling I was seeing from Anon and my lack of knowledge of Colombia. The deposit isn't going anywhere so I still remain concerned with geo-political risk even though I take Colombia over about half the counties in Lat-AM right now. The trading has improved significantly though over the last couple of weeks and I'm not just saying that because the share price has moved up. I'm referring to the clear signs of serious accumulation happening now. If you have access pull up the market book from today and compare the size of orders on the bid and ask.

Lastly, a personal hero of mine, Ross Beaty, announced that he had picked up another 2.25 million shares on the open market yesterday just over $2.00 giving him 9,109,500 shares and another 5,355,000 warrants. I honestly don't think anyone outside of the company has better knowledge than him, so I trust that he knows what he is doing in adding at these levels.

I'm not giving investment advice, and you should do your own DD but as I've said before, this one should be on your radar.

GLTA,

Buck

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