The Smartstox Talk Show
July 24, 2007 - Hosted By Stanley Hunt

Stanley Hunt: "Hello investors my name is Stanley Hunt your host here at the Smartstox Talk Show. Here we are in Vancouver British Columbia Canada, the resource capital of the world, and I have a friend of mine Paul Gill who is the president of Grenville, welcome back to the show."

Paul Gill: "Thanks very much Stanley, it's good to be here."

Stanley Hunt: "Well you know things are starting to happen here in the market, this is summer time, I can see some interest all across the board coming back into the stock market."

Paul Gill: "Absolutely, I think the metals have come off a little bit in the spring but I here them just roaring back in the summer and I think that people are going to come back for holiday and find a different world then when they left."

Stanley Hunt: "I certainly hope so; the metals across the board are absolutely historical."

Paul Gill: "Yeah absolutely, Silver hit 13$ again, it's the second time it's been up there, copper is up, way past 3$ and gold is holding steady at 660$ or so, I think we have a real bull market in metals happening right now."

Stanley Hunt: "And that's why I like your company being on our show because you're in Peru and you want gold, silver and copper you're the place to be."

Paul Gill: "Absolutely, we want exposure to all three of those metals and that's how we built the company. We've been able to put in a number of great properties. We have gold properties in Ecuador, we have copper properties in Peru and now we've taken on a huge silver project here in Peru as well."

Stanley Hunt: "Well this silver project, I've always been sort of liking silver for all the time here for many many years and you've sort of put a bunch of properties together."

Paul Gill: "Absolutely, I think the initial take on it was that there was a number of claims that are coming up in an area where there were four silver mines that had been producing in the last 30 years and we looked at it, it was just a package of claims that was about 1500 hectors and we decided to take it on as a mega project and put it together."

Stanley Hunt: "So you have a lot of historical data there?"

Paul Gill: "Absolutely, from those four producing mines, two of them have good historical information; we found out that they produced 18 million oz of silver, about 44 million oz of zinc and about 96 million lbs of copper."

Stanley Hunt: "Okay, so you have zinc there to?"

Paul Gill: "Yeah, it's a polymetallic area and there's a number of different types of metals, that's what I like about it, it gives you exposure to all of those metals, the base metals, the precious metals, like silver and there might be a bit of gold as well, we haven't done all the tests on that."

Stanley Hunt: "Well I bet the old timers sure would have loved to see silver at 13$ back in those days".

Paul Gill: "Oh absolutely, I think they were shutting down because they didn't have those kind of prices back then. Now it's an incredible situation, we've a number of things happen in Peru; Government's stabilized, so it takes that risk factor out of it. We've had lots of investors come back to Peru and want to get invested, the Barrick's, the Newmont's, the big mining companies, Xstrata just bought a big package of land in the interior and just recently Peru Copper, which is one of our closer neighbors got taken out or a buyout's been offered to them. We're very happy to be in a similar situation."

Stanley Hunt: "Well you're very close, I think location's important?"

Paul Gill: "Oh I think location's important, I think the past production, it all ties together, the location, the past production, the fact that we've found information on what they've mapped for the next 15 years and not all of it's been exploited, the fact that we've got fantastic silver, high grade silver results already and what they know from the past mining, they've had high grade results come out of the ground. We love the potential of this particular project."

Stanley Hunt: "Well what I like is the historical data of course, you know hey they were producing and they only stopped because of prices being low and here we are with a high price there's got to be more silver there."

Paul Gill: "Absolutely and there were a number of different factors in the past, political instability that affected them, but to have this package in this company with only 27 million shares out, we've had a good a good amount of money in the tile. We've been active and we've just taken it on and I like to be in a company that's moving and the growth strategy is coming together really well. I think we've got a long way to go in this project. I think this particular company is going to be heard from."

Stanley Hunt: "Well Paul, I think you've put together a very strong team here, maybe we should here from your geologist?"

Paul Gill: "Absolutely, Mr. Len de Melt is the Chairman of the company and a mining technician with years of experience in mining so I'm going to ask him to say a few words about the project. He's really the instigator of all this fantastic good news and good fortune for Grenville."

Stanley Hunt: "Well Len, I just want to thank you for being on our show again and because you bring so much energy and passion to this business and being in Grenville here, I am so excited for your whole company and your shareholders because of what your doing in Peru. Maybe you could just explain to the shareholders what's happening."

Len de Melt: "OK Stanley, we have a great property, 3 hours east of Lima, it's only 20 km from the Toromocho project that just sold for approximately 1 billion $. The geology is very similar, like real estate, mining is location, location, location. I'm very happy with the location, I'm very happy as Paul just mentioned, I'm very happy with the potential for this property. There's history, there's present historical reserves, but the miners in Peru previously just mined strait into the side of the mountains, followed the veins. We have about 25 geologists on the property in total. We're trying to fast track this project and bring it up to where we believe it should be as quickly as possible. Number of the stopes still have ore in them, number of the stopes we're only half mined out so we could go back into production as they were previously in production in a very short period of time. So I'm excited about it in two ways. Number one, putting it back into production where it was previously being mined at 2500 tonnes a day. Of course more excited, even more excited by the possibility of for another Toromocho type project. Within those 25 geologists I should mention that they work for a total of 4 different companies, because Glencore has geologists on the property which Glencore is Xstrata, Hochschild has geologists on the property, Solway have geologists on the property and we have our own geologists on the property. So that's how the teams of geologists are made up. There was a lot of work to do because they're analyzing the previous tailings, there's studies, Knight Piésold presently doing a study to determine how many ounces of gold they expect, a lot of ounces of gold left in the tailings, during the previous days they never tried to retrieve the gold. Some people have mentioned as much as possibly as high as 2 million oz of gold just in the tailings. Glencore is studying the tailings, that's their number one primary objective and we recently purchased the surface rights so now we hold onto all the farm land in the area and we purchased the surface rights not only over our claims but over the neighboring claims, so we own a lot of land in the area, we could possibly go into farming but no we're miners."

Stanley Hunt: "Well mining is good and with all those people from different companies on there, this tailings […] could be a real coup here."

Len de Melt: "The tailings should produce us some cash flow very quickly."

Stanley Hunt: "Len you're a mining engineer and maybe you can help me out here, when I see four past producers in one area is there a new strategy here?"

Len de Melt: "I'm glad you ask that question Stanley. 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."

Stanley Hunt: "So you're taking down part of the mountain and making an open pit?"

Len de Melt: "That's our objective."

Stanley Hunt: "Wow! This is bigger than I thought then, if this is your plan."

Len de Melt: "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."

Stanley Hunt: "One thing about talking to you Len, you've got strong direction and commitment here that you're putting into this company that I am very excited for the shareholders."

Len de Melt: "Thank you Stanley, thank you."

Stanley Hunt: "I'm Stanley Hunt, your host at the Smartstox Talk Show."



Disclaimer: the transcript above was written by me.

I_luv_GVG