Evolving Gold is our recent acquisition. We first bought a small position in the middle of August and intended to buy more upon any significant pullback. Last week presented that opportunity and we doubled down at CA$1.21.

This opportunity was presented thanks to many investors’ misunderstanding of the deposit. The Company reported results from several drillholes on its Wyoming property. The results showed lower grades than some previous drills but the Company made further progress in connecting the North Stock zone with the Antelope Basin zone. Investors did not like the fact that South Stock drills showed little mineralization causing the Company to abandon drilling in the zone for the time being.

But the Company never really placed too much hope on the South Stock zone. Linking the North Stock and the Antelope Basin is much more important and also more likely.

Drill holes have also encountered a new type of mineralization – a type of porphyry, which could indicate that the size of the deposit could be very significant.