nice long talk with Marla.

re insider trading, can't say that I have anything specific that will calm 100% of the fears but if anyone is that worried about it-they should give Marla a call and I think by the end of the conversation you'll find it isn't a big deal.

These guys have been holding from day one, the options that Hamilton sold he purchased last summer. 

They are looking ahead to being blacked out, ie not able to buy or sell anything and that could go on for months (gov't agreement/draft mining laws/bids etc) so if they have any requirements for cash now or perceived needs for cash in the next while they had better do it now.

Patrick/legal councel place the blackout on the directors/insiders whenever there is material changes that haven't been made public yet.

Marla is trying to draft a release and convince the board to release it just explain ing that some insider selling may be happening for normal needs, and may continue this week or so. I didn't get the feeling they would be huge, just some activity.

Talks with gov't on agreement/draft mining laws continuing. Still looking at late March for release. Lots of pressure to get it done.

Always interested parties hovering around. No site visits since just before xmas. However, names mentioned...Barrick who is in Ecuador already whether they admit it publicly or not, and Newmont. Remember that name...Newmont.

Aerotem delayed at supplier end. They are going to send a drills searching for the western fault in the meantime, a deep one. Have some good ideas on where western fault may be, and there has been a change of opinion as to the priority of searching for it. It's on the agenda once again.

They have 2-3 drills on 'other targets'. 

PDAC Patrick and boys will pick up Discovery Award on Monday night. Quite a few people will be up from Ecuador , including from Ministry of Mines. They will show them around including  touring a Canadian mine.

Remember that group that came up with 4 options down in Ecuador, most of them off the wall and unacceptable? Chiriboga spent yesterday speaking to them and getting them on track re mining and mining future in Ecuador. A sort of 'get real' speach, mining is the future blah blah blah. He will spend his time getting that group on track and with the program.

Hamilton still has 400,00 options left.

Part of the selling due to a number of options expiring. They have nothing to do with how the negotiations are going. Yes timing sucks but they are all human beings with their own needs.

Also coming up during PDAC are two journalists from Ecuador. one from El Commercial and one from a business mag. (Not Soto) to cover Aurelian.

There may be a number of changes to how they interpret the # of ounces. It had to conform to a mine configuration which eliminated a number of oz. I got the feeling that will change, perhaps the 2.3 g/t cut off as well, all good news timed to come out during the agreement/draft law/bid phase.

Thats about all I can remember, other than I didn't get the feeling anything was being hidden, or devious, or negative. Everything full speed ahead. Best part for me. 1) they are looking for western fault again and 2) Newmont VERY interested.

safeharbour