Galahad Metals

4 projects in Ontario, Quebec and Nevada (Gold, Silver,Copper,REE)

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Message: The Hoov Effect

Glorieux:

Thanks for putting yourself out on a public chat board and then trying to stifle any real discussion about the substance of a company or its prospects as an investment. Why don't you just sit and look in the mirror by yourself if you are so lovely.

If you want to discuss some facts and some challenges facing the company, please consider these items:

1. There seem to be claims on various bullboards that the company will be active with "upcoming drilling" to take place? Is it Quebec or Nevada?
2. How will the company fund deeper drilling in Nevada where they claim deeper drilling of 500 or more meters will be required? Those deeper holes will typically cost $75K each. The company has no funds presently and will raise $300K that is not flow-through. They have said over and over they need to spend several hundred thousand for the overdue claim fees in NV that were due September 1. I guess you may have enough money to do one hole? Not too many drillers break from their busy schedules to mobilize for a one hole program.
3. How will the company recover from its negative working capital positon of approx. $900K? At June 30, there were $661K in regular accounts payable that must be long overdue and $210K payable to the government for fines and penalties on flow-through. I would have thought that most of the balance of the regular funds not consummed to pay the NV land fees would get utilized to deal with old payables.

4. Cash was about $11K at June 30. It would be likely that liabilities have grown over the last 2.5 months. With only $300K coming from the non-FT PP how will the company actually cover NV land fees, old liabilities and have any room to function; let alone be able to conduct exploration programs?

5. Is the share structure really pristine? GAX has 23.3M shares now and will put out about 12M more on the PP. That is over 35M and it will still have a larger working capital deficiency precluding any real exploration drilling plans. What do you expect is the follow on plan, I guess to pump out a large block of shares at $0.10?

Why not sit back and answer some of these questions before pumping further. Appreciate your thoughtful input on this, if you are just going to tell me to shut up please have the courtesy not to reply.

Nob

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