We have to remember gold traded to EURO 570 in the spring of 2006. If the gold bull is for real, EURO 570 should be broken and then we are on our way past the equivalent US$800.

The multiple effect of Glencairn profit takers looking to add to their position plus a rising gold price is certain to put upward pressure on the market maker. I am also looking to add at your suggested price, but may be convinced to raise my ante shortly.

As for your concern with the recent financing issue at $0.15, I understand your unease, but in all fairness the issue and deal was originated when gold was $50 lower than it is today. In my opinion in a rising gold price environment, shareholders ought to not hold Glencairn’s management responsible for a positive differential between the Aberdeen financing rate and the current stock value.

I suppose individuals are uptight about the Bellavista write down in the upcoming Q3, but I personally will be looking beyond and paying closer attention to Limon’s cash cost. Peter Tagliamonte has alluded more than once, optimizing operations are one of the key points to Glencairn’s growth.