Hello Kull,

Excellent post.

You write: "The only question I would ask myself is why the management only bought ca 40-50,000 shares from the last PP ($0.60 per share with $0.80 per warrant) if they do anticipate significant share price increase? It looks more like they anticipated the opposite (in which they were correct)."

I believe your second assumption is correct.

You write:"the management needs interest from institutional investor/s to move the share price higher."

I agree with you on this. I believe that cash flow, drilling and anticipated results, Lima listing, bullish silver price and increased market awareness are part of the main catalysts that will expand shareholder base and drive market capitalization upwards.

You write:"I wonder what is the current cash situation, as they had only few hundred thousand just a while ago and to “secure/purchase the mill” plus the operating costs must require much more cash on hand. So, is there a financing coming? Last one did not go as well as hopped (only 1/3 of what initially was advertised was subscribed for)."

From the "Grenville Gold Looks For Peruvian Cash Flow" article (09/19/2007): "Cash on hand at the moment is C$500,000 but warrants are being exercised. As Grenville advances the Silveria project, Gill said another financing would probably have to be done unless the bulk of outstanding warrants are exercised."

From "Grenville Gold completes $1.84-million financing" news release (06/28/2007): "The financing, which was announced on May 3, 2007, was formerly conducted on a firm-commitment basis for NCI to raise up to $4-million, with an overallotment option to raise on behalf of the company an additional $2-million. The company and NSI mutually agreed to limit the offering to a maximum of $2-million, with no overallotment option."

When you buy this many shares you want to limit your share issuance on a fully diluted basis. 

You write: "And, what about that planned exploration program for December 2007 (from Company’s website)? Paul, in one of the interview said that it is impossible (or uneconomic) to drill vertical veins. So what kind of exploration they are talking about?"

From the "Grenville Gold Looks For Peruvian Cash Flow" article (09/19/2007): "[...] we're going to start exploration and drilling for a disseminated deposit, whether it be a base-metals deposit or gold, which may be under some of this incredible veining in the area," Gill said.

From the"The Smartstox Talk Show" (07/24/2007): Len de Melt: “[...]Our dream is to turn this into a huge open pit mine. I made that point but maybe not in as much detail, the previous miners are mining in the veins they go in and they follow the veins and that’s what they do. We’re doing a huge exploration program and we hope to turn this whole area into one huge open pit.” [...] We’re going to proceed with going underground and producing some short term cash flow but our long-term dream is to turn this whole area into one huge open pit"

I hope this helps!

I_luv_GVG