The Opportunity Show October 29,
2007
Hosted By Troy Duran



Troy Duran: "Time to catch up with Paul Gill, the President and CEO of Grenville Gold Corporation. You find them on the web at http://www.grenvillegoldcorp.com. You will also be able to trade them on the TSX Venture Exchange, symbol GVG.V. Paul
it's great to talk to you again."

Paul Gill: "Thanks Troy, thanks for having me on."

Troy Duran: "Sure, no problem. You've been pretty busy, you've been travelling a lot. We have not had a chance to catch up in the last couple of weeks. It'll be pretty interesting to see what is going on at Grenville these days. I guess a general question about the direction of the resources industry and what that means for Explorers and Producers like Grenville?"

Paul Gill: "Yeah, it's a really good question to ask right now because I've been able to trace around the entire World in the last little bit practically, well let's say Europe and Canada at least. I've talked to different people with different perspectives: fund managers, analysts, people that are interested in metals and mining. I've been in Zurich, Geneva, London and Toronto in the last week or so. […] one thing that was quite interesting in a lot of these discussions, I've had the one on ones and questions that were asked is that a number of different people let me know that what they are looking for is specifically oriented towards production and the reason for that is the larger caps have in the last little while gone thru a consolidation period. We have seen large companies […] swallow up companies in Canada, takeout attempts such as Barrick on Nova Gold and their coming to trickle down into these mid-tier companies with a very well developed property. That is the interesting point to us because we are sitting in a situation where the Silveria property specifically and even the Rosa Maria Espanola property, both have this potential of being near-term producers and they have already had all kinds of workings, tunnels and adits and extraction happened on the properties so you've got a potential there to jump right in to the freight."

Troy Duran: "How's the response been from these analysts and fund managers that you've been speaking with to specifically Grenville?"

Paul Gill: "Well specifically in the Grenville situation, they are very interested in the story, they've got I think a wait and see approach right now because these markets are a little bit down. They are looking for developed revenue, consistent revenue flow and cash flow coming out of these mines because that is what we are aiming to accomplish and once the proof is in the pudding we can proceed and gain so more attention."

Troy Duran: "So maybe the message from analysts and fund managers is if you can get to here you have a very good chance of making the next step which would be a big evolution for Grenville?"

Paul Gill: "Yes. The base consideration, the plan has been to create and establish cash flow project that has that expectation or at least the exploration potential to go blue sky meaning that there'd be a much larger resource that could be proved up thru drilling or that we would be able to find further and further resource in other areas of the property."

Troy Duran: "[…]In order to get to the next step where are we sitting with your big Silveria property in Peru?";

Paul Gill: "Right now what we are trying to do is we have announced information indicating we have started a bit of exploration, we are taking samples from inside the mines determining the type of mineralization there is, taking samples in a grid pattern outside trying to determine if there is any surface showings we should be interested in and map. To get more information about the project, right now we have got a 3D model that is on the web site, which will give you a general idea of what the shape of the stopes are, where the tunnels run. But that is not the whole picture, the whole picture is something that we do not share with people and that is we have got the mining records that indicate where the high grade material was taken out, where there was zinc found of plus 10%, where silver was found over ten oz per ton and that is information we are still keeping back and looking at because it applies to our exploration program as well.";

Troy Duran: "It really has more to do with what your able to use for your needs at this point and time and of course as a responsible company you have to file for 43-101 compliant reports right?"

Paul Gill: "Exactly and we have done so quantifying and qualifying some of the information that is already been out previously and we plan to continue that process of looking at information, assessing it, certainly how it fits into the overall picture. It's a precarious and painstaking task but it's well worth it in the end."

Troy Duran: "[…]Thanks very much for your time Paul.";

Paul Gill: "Thanks very much.";

Disclaimer: the
transcript above was written by me.


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