Traps, the last two posts only help to justify my statement that the other two need to do some exploration on their own. MMU has never done any drilling and WEL has done limited exploration which I hear is about to change. Property is worthless if they don't know whats under the surface. The current investment climate is giving moose pasture a better valuation than some small producers, but not much. Look at MEM, FNI, LBE, CMM, vs MMU. Also look at dilution. Companies like GZD are drilling and doing extensive soil sampling in preparation for drilling. The small share float enhances the share price and allows PP to be done at decent prices thereby keeping share price up and dilution at a minimum. San Gold has survived the high dilution problem because of the large resource, low cost drilling from Wynn drilling because of the large footage and no mob costs, and purchasing a mine and mill for 3% of the cost to build a new one. The Red Mile program also helped supply cash early and will not be a liability because of the high grades found.

This concept and idea were spawned largely because the Wynn family had the land tied up around Harmony and Rea so that any expansion plans they had would have to be done by optioning his property and Hugh held out for the big money. Dale Ginn has never been given credit for the foresight in doing some deep drilling that was the early reason to partner with Hugh to buy the mine. San Gold #1 was obtained thru a jv with Gold City and Fred Sveinson who was born in Bisset and although the idea was good the partners could not see eye to eye and Fred moved on to Greenwood and Revelstoke. The foresight to split off the BC assets enabled the new company and all of us former Gold City shareholders got free shares so the low share price right now is not portfolio breaking. If the price of metals other than gold come back strong his company will recover strongly, but dependence on copper and zinc have made production unprofitable for the short term.

I realize that my ramblings include other companies, but comparison have to be made to make a point. Traps has morgaged the farm for the area plays and I hope they work out in spades. All of the management people in these companies have experience and are relying on their knowledge to make us longs rich. Hugh could have sold us out long ago if he had wanted. His ultimate wish is to see this gold mine stand alone and provide employment for the area and pfoits for the small shareholders.