Good afternoon Gents,

I talked to Frank Candido this morning after his trip to the NYC MIning and Metals Conference. If you think the mood on this Agoraboard is bad, he said you should of seen the doomsday attitudes around that conference. To me... that is a good sign... low volumes, and doomsday attitudes can sometimes reflect a change in the winds for the sector.

Could there be more pain to come? ... sure but maybe that is not altogether bad either. If you think about all the really bad companies out there competing for investors, then you almost start to cheer for a shakeup- I mean a really nasty event that separates the men from the boys so to speak. I believe GNH would survive such an event based on my knowledge of their properties but I welcome other comments on that matter. Imagine the blue sky for the survivors of such a debacle.

We all know the reason for the delay.. to include the final holes. I was in favor of the decision to delay the estimate because it made sense to me at the time. I do not believe the delays necessarily reflect bad news. All the holes are in and now the work is in the hands of SGS. We musn't assume that we are the only client that has retained SGS' services and so, like Mr. Candido we must wait for SGS to complete its calculation of our resource.

This board kind of feels like a dysfunctional family right now complete with crazy uncles and all. Hopefully, by the time of the next family reunion the RE and the global disenchantment with resource stocks will be a distant memory.

Good night from Walton's Mountain.

Scott