up 18$ today while the US dollar was flat, a very good move. The US dollar will falter again in the next few months and this will propel gold to new highs, probably in time for Lamaque to start pouring gold.

We found our bottom today at $0.35 and bounced back very well. Resistance will be at $0.40. The impetus for higher prices beside the PoG will be:

Conference call on January 12th

Drilling results from Lamaque specifically Bedard's Dyke area

4th quarter financials. These should be excellent. The 3rd quarter showed 4.6M revenue with average gold price of $900 on cash cost of $550, so profit of $350 per ounce. In the 4th quarter, gold averaged $1100 so we should see profit of $550 per ounce or 57% better. This should give us revenues of 7.2M after mining costs, all from SJ. These results should be out in late February or sooner.

Those that wanted a pullback, well this was a good one, hope some of you took advantage of it!

Glorieux