I cannot recall that PC but it would not surprise me at all. What I do remember is there is a deposit being mined right now in Quebec, near Val D'or (sorry I forget the name of the deposit, possibly owned by Agnico-Eagle) where they did have the same issue of grade representation. This deposit started 500m down so it is underground mining and their 43-101 report stated that it graded about 2g/t on average. Now that they are mining it, the head grade is coming in over 4 g/t. This is a big reason that James Tilsley did not want to do a 43-101 early on this deposit. Once a deposit is labelled 2g/t, it is very hard to shake that label. I remember being very impressed after the AGM where JT explained all this. In my mind, at that point-and still today, we have the BEST man for this difficult job. JT believes that even though the drill shows 2g/t and the bulk sample shows 3g/t, we are still higher than 3g/t, not somewhere in between.

This difference of grade makes a HUGE difference, no only in how much gold we have: on 100M tons 2 g/t gives us 6M ounces, 3g/t gives us 9M ounces and 4 g/t would give us 12M ounces, bigger than Malartic/Osisko but it makes the economics of the project much better. Imagine if our processing costs came in at $25 per gram of gold produced. Each gram is worth about $41 at today's spot price. So at 2g/t, our profit margin is 69.5%, at 3g/t, our profit margin would be 79.7% and at 4g/t our profit margin would be 84.8%. So, our grade has a double effect on profitability and JT realizes this and why he is so careful about our grade and the nugget effect.

I had a good discussion with a very smart investor yesterday about taking profits and we share the same philosophy where we are invested in only a few companies that we get to know very well and can keep up with their development and then we ride em hard till the end. We both agreed that this deposit is real and this company is real and that we would be holding out for the end game as the profits to be gained here are multiples of our current share price. In the current gold environment where we have high prices-and still rising- and that the average mine is now producing at 1.6g/t on average on deposit of 3M ounces or less, and the big producers need to replenish their shrinking reserves, it may not be too long before we have a huge bull's eye on our back as an acquisition target. That is when the real fun will begin. For now, we need to explain to the market what we have, raise our share price, raise big money that will not dilute us like crazy and then drill our huge property with multiple drills and prove up as much as we can as fast as we can.

Monday cannot come fast enough but I will be here for alot longer than that.

Glorieux