With that I’ll turn the call back over to Greg. Greg.

Greg Gibson

Okay, thanks Mandeep. I think some of the things that we really have to look at when we start changing mining methods, when we start looking at what is it we’re really trying to do with Rice Lake.

And one of the big things is, if you just looked at the grade, the focus on grade that we’re doing, we’ve kept the grade up from 3.5 grams up into pretty much 4.5 grams. We’ve gone from massive development, massive ore development to smaller ore development.

So, I think the financials as we come into the third quarter, you’re really going to see a big change and what we’re really trying to focus on and you’ll start to see our focus on ounces.

So, with what we’re really achieving here is we’re turning a mine that tried to be a big mine, a mine that expanded their mill, a mine that bought big equipment and really wanted to be a nine. Unfortunately there were three dressed up as nine. And now we’re going back to 2-yard scoops. I think the largest piece of equipment we have is a 3.5 yard scoop. We’ll have ore cars, 5-ton ore cars.

So coming into the third quarter, you’re going to see a huge change. You’re going to see the losses dissipate, you’re going to see the amount of capital spent reduced. I’m looking forward to next Tuesday at the AGM when people can stand up and throw darts at us and say what – you blew our investment, you did a whole bunch of things.

But let’s give some credit what creditors do, let’s say what thanks to Dale Ginn, thanks for making the changes you made for recognizing where we were going and fix this thing. Because had he not made the changes when he did, I’ll say it again, we were heading for a creditors meeting.

And this is a management group and it was led by Dale, it was led by Hugh that when Dale stepped down, there was $86 million in the bank, okay. When they finally said enough is enough, we were $73 million in debt. So, we’re going to go back, we’re going to get some ounces. We’re going to get rid of the debt. It’s going to be a bit more painful. But we’re going to do it.

And the nice thing, lucky, I’m lucky again, I’ve been able to come into a company and say, we have a new discovery. San Gold has got a new zone that is going to be comparable to the Rice Lake zone, to the Sam unit. And I’m thrilled about it.

And with that, I’ll turn it over to Mike Michaud, who can give you a little bit of an example of what we’re doing with exploration.