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Message: Jack's Response

Jack's Response

posted on Aug 13, 2008 09:22AM

Kudos to Jack for taking the time to respond to my email despite being "on the road". I think JNY investors can feel reassured knowing that work is being conducted on Silveria and sufficient financing is in place to honour the JV commitments with GVG.

On top of the $400,000 raised through the pp of 2,000,000 shares, Gateway securities is raising 2.5m of JNY's financing and JNY management has been told that the total will be raised. Jack also stated that JNY is also negotiating with parties in Europe who would like to invest a sizable amount.

He also said that they have spent over 800k so far on the Silveria project and have funded the JV to the amount of 1.3m. The next funding of the Silveria JV is due on Sept. 30, and he stated that meeting that obligation would be no problem.

Jack also wrote that Journey has done quite a bit of work on Silveria. Over 2000 samples have been taken from both surface as well as underground and to watch for news regarding these assays.

Well, I guess that's it for now. As I said in the outset, I feel much more assured now, knowing that JNY can continue to fund its Silveria commitments as intended, which is quite significant given the current state of the markets, and in particular the junior resource sector.

Have a good afternoon!

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