Net earnings for the nine-month period ended September 30, 2008 were $2,760,293 or $0.11 per share, compared with net earnings of $529,223, or $0.02 per share during the nine-month period ended September 30, 2007.

Obviously, Louvem is trading at a very low P/E, somewhere in the range of 2 or 3 for the year 2008.

IMO, it will remain so until the reserves increase, the overall junior gold producers attract investors again, and a new ressurgence in the price of gold takes place.

As per the report, an updated resource calculation for the new explorations area will be prepared with all the information available as of December 31, 2008.

We need a major increase in reserves.