Retailers are rediculous dreamers and wanted 10 million ounces - right now! Its an age of instant gratification and the advent of electronic trading has allowed any monkey with a computer to influence price moves :-(. Here is what I.R. told me when I inquired about the NR and the negative reaction:

My opinions are:

1/ the resource number is an ultra conservative number – if in doubt on a calculation, they don’t give you credit for the ounces

2/ the non-compliant estimates that the analysts have expressed are based on giving credit for all of the possible ounces plus some blue sky

3/ some investors are able to separate the vast difference between 1/ and 2/, and some can’t - they are two very different outlooks and calculations

4/ consider this, we went from almost nothing to 3.7M oz on 39,000 metres of drilling in the past 2 years, and we plan for 50,000 metres this year. That's a lot of ounces we can add very quickly.....

5/ we aren’t wondering where to drill next to find more ounces – we simply need to drill as fast as we can and have more targets than what we can get to quickly.

6/ we currently have 3 rigs turning and should soon have 4 and then 6 rigs once our camp is ready for this – could be as soon as the next few weeks.

Today’s reaction is not uncommon when a company puts out a resource umber. However, I wish we could’ve bucked the trend. I think we have so much going on that if we continue with our mandate of drilling as aggressively as we can and keep up with the pre-development activities in the background that we will get full value in the stock price for this…..