Good morning all

If I have my figures some where close to being accurate.. the 114,000 metres of drilling that our partner Premier has done last year, over at Geraldton, probably cost somewhere about 100 dollars per drilled metre.. so I expect they spent over 11 million dollars..

If I add another few million for assays.. etc.. then lets figure the spent maximum up 15 million last year.. .
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Doesn't that 15 million dollars figure seem reasonable.. or at least enough to pay for last year's work on that Hardrock Project ???
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OK.. so lets assume they found over a million ounces....

My calculation ..just completed yesterday.. says 1,200,000 million ounces at just over 4.5 grams per tonne.. Note that the open pitable area is less then 4.5 grams but the deeper drilling is over that 4.5 grams.. as it gets richer at depth....
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So.. If we give these new ounces... an insitu value of .. say .. a measly $125 per ounce .. it looks like the total insitu value of the new ounces is around $150,000,000 ..
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Now folks...
Doesn't that appear that for ...each and every dollar spent .. they ( Premier )is finding ... 10 dollars of INSITU VALUE... yes.. 1 dollar cost for 10 dollars of value

That's what my picture looks like.. and they are continuing this exploration with beginning with 8 drills this year.. If they keep all these drills working this year, they could very easily drill over another 100,000metres this year...

So.. since we can now see that GRC's 30 percent ownership in that $150 million .. gives GRC another 45 million dollars insitu value . ( just as soon as Premier's New Resource Estimate is released and my numbers are confirmed )."
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Now ..here is a hard question ....that deserves some special thought ..
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HOW MUCH DID WE SPEND ??
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The answer is . " Nothing... that's right .... not even one red cent...

All of our money raised in that last flow-thru financing .. and that's over $ 6,000,000 ... must all be spent for exploration "ONLY " on GRC's 100 percent owned property

Now .. who wants to guess... on how much more value for GRC ( probably by this time next year ) ... will this..$6 million now being spentthis year for our own 50,000 metre drill program .

YES.... THIS STOCK IS WORTH A LOT MORE THEN TODAY'S VALUE