I just got off the phone with John Timmons at the Toronto office. I just asked for a general update and explanation of the current stock price. I didn't have a pen/paper handy when I called, so apologies if the information contained in this post is not 100% accurate, but I'll do my best.

1) There will be a press release in 7-10 days providing an update on the plans for 2010 drilling. "The guys are on there way up there right now" is what I was told. Drilling is expected to begin in June with focus on Key Lake and Leitch properties. I was told the reason for delays was the shear amount of data that had to be processed and analyzed.

2) John Timmons acknowledged that the share price has been suffering and that it has been painful for us longs. When I asked if the recent selling was related to past private placements, he didn't outright answer 'yes' but stated that Mineral Fields has been an aggressive seller. He also said that they still have about 4-5 million shares.

3) I was told that the plan moving forward is similar to that of GUY. The general idea is to get the institutional ownership as high as possible. GRC is working on getting funds involved with GUY to invest in GRC. If you look at page 7 of http://www.guygold.com/docs/GG-May%20Presentation-%20PPT-slide%20for%20print-full%20version.pdf you will see that GUY has institutional ownership of 56% and insider ownership of 9%. The whole idea right now is attract the deep pockets, so we don't get in the vicious circle of traders/retailers buying the stock at 50, selling at 60, repeat.