Hi Donald!

I think now that SMH has closed one tranch of the PP, they can now fund the work commitment to try and present more resources from Marudi. Given the volume of data from the earlier programs, I would think that at least some of the new targets are very likely to yield some exciting exploration results.

This correction in the PM sector will not go on forever. When the bottom is in and the juniors start to rebound, the companies that have active projects on the go with good results will be the first to regain lost market value. I expect to see SMH trading higher on that basis, and the reason investors will willing to buy into a placement priced well above the market price is because they too expect good things are coming.

I will be representing SMH at the Las Vegas Hard Assets show next week, and I am happy the company could disclose that the next round of work is underway, since it gives me more to talk about.

cheers!

Mike Kachanovsky

IR Consultant