Hi all

I haven't posted for a long time but i just thought I'd pop my head up with an observation that I'm sure is obvious to us all. The further run up in the price of gold that is taking another leg up today really does provide a major silver lining to the frustration of all the delays we have had to endure over the last 18 months or so. The return on our investment for having left the tailings unprocessed for all these months is going to be pretty nice. None of us know the exact numbers yet, but we can make some best guess assumptions of the processing costs, lease payments and 15% royalty to Goldcorp. Where a year or ago our net profit per oz of gold might have been $500 it would now be more like $650. That's A 30% return for having waited a year to begin processing the tailings. That is not insignificant when you are talking about 100's of millions of dollars in value potentally waiting in those piles. The frustrations of the delays may in fact turn out to be a wonderful blessing in disguise.

Mr. Z