The Opportunity Show November 6,

2007

Hosted By Troy Duran



Troy Duran:
"Copper, Silver, Gold, you're in good shape when you are taking a look
at Grenville Gold Corporation. They have targets for all three in Peru.
We are talking with Paul Gill, the President and CEO of Grenville Gold
Corporation. They are trading on the TSX Venture Exchange symbol GVG.V
[...] Paul
it's great to talk to you today."

Paul Gill: "Thanks Troy, it's great to be on."

Troy Duran:
"Well thanks, I had an opportunity to take a look at your Web site.
What a great idea it is for you to post a video on your Pacococha mine
on YouTube."

Paul Gill:
"Yes, I think its one thing to talk about the fact there is a huge
underground working that is there and its been developed already and
another thing to actually show it: take the information that is in the
mine plans from years gone by and show it graphically so people can see
that they were mining and in this particular video there are large
yellow sections that are basically chunks that have been taken out and
processed."

Troy Duran:
"When you look at this video it is as if you can dive into the ground
and swim around thru the dirt and see the actual mines and drilling
that you have which has resulted in quite a bit of historical resource:
18 M oz of silver."

Paul Gill:
"In fact there has been 39 M oz out of the two different mines that
have been in operation there Millotingo and Pacococha together, but
strictly from Pacococha there has been 18 M oz of silver, 97 M lbs of
copper and 44 M lbs of zinc. So you have a great polymetallic deposit
here that has everything you might need. I would almost say its like a
supermarket for a group of buildings out in China some place. They can
come here and get their zinc, their lead and their copper because
they've got to nail down their supply for the next two or three years,
they cannot run out. I mean if they are going to have the Olympics in
2008 just around the corner, they are going to make sure that all the
buildings are built, they have to make sure that their copper wires are
in place and all the rest of it. There is no replacing the metals, you
have to get it and gold and silver just today, you are looking at gold
at $822 oz, over $15 for an oz silver, and I think silver is going to
be the story in the next little bit, even moving faster than gold."

Troy Duran:
"Yes because silver typically trades at a little bit higher amount in
relation to gold, and nobody is saying we are seeing gold correcting
back down, they see gold going up but silver typically trades at a
higher level in relation to gold than it does. So we can expect to see
silver close that gap a bit can't we?"

Paul Gill:
"Yes, there is a certain correlation between silver and gold and that
is just basically on the concept of how much gold and silver there is
in the World and there is ten times more silver than gold, but the fact
is people have not been bothering to look for silver because it's so
underpriced. Now all a sudden people realize there is all kinds of
industrial uses, it's one of the best conductors out there, it's just
as useful as gold, its a lot cheaper. You are going to see I think a
good rise in the price of silver because the producing mines are
charging more and more for silver because it's costing them more and
more to get it out of the ground."

Troy Duran: "Because they can, because the demand is certainly there."

Paul Gill: "The demand is there, yes."

Troy Duran:
"[...]At this point in time [...] you're working on quantifying these
deposits and at the same time making money from the ore you have
readily at hand from tailings. You've been moving pretty fast for a
young company."

Paul Gill:
"Well I will tell you our situation is this: we are at the very
beginning of really getting this company on its feet. It's only been a
year or so, in fact almost to the day I took over as President of this
company. We have gone from an inactive diamond explorer in Canada to
being at the leading edge of one of the biggest stories in Peru on
silver in the last 10 or 20 years. These particular mines are already
identified, the Pacococha and Millotingo mines as the highest grade and
the richest mines in Peru's history in regards to their production of
silver. So we think we are on the right track. We have got neighbors
out there that are operating in the area, Pan American Silver that has
been up in the Maracucho area about 25 km's away. Right beside them
there has been a deposit from Toromocho that was more copper oriented
that was bought out by the Chinese Investors and copper Producers for
$US 847 M. So there is some big targets out there with the vein
structure on this particular project. We have got veins running all
over the place around Pacococha, there is 44 mapped so far, these are
running for several hundred meters to kilometers in length and for each
one of them for each meter you move you can produce approximately 141
tons of ore at a cost of about $20 per ton. So I think the people have
to take a good look and see where silver is going, they know where gold
is going, gold has gone thru the roof but I think people are going to
be surprised at how fast silver moves and how fast things happen in the
silver markets."

Troy Duran: "[...] Thanks for your time today."


Paul Gill: "Thanks very much Troy."


Disclaimer: the
transcript above was written by me.


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