Dear Evolving Gold.

As a shareholder I would like to know what is going on in this company. Your stock has preformed pitifully and the market has lost all faith in the company.

Do you ever read what is posted online about the company??? Everyone blames management! You have been drilling in some very promising areas and even with good results no one wants to buy in this company. So the problem is with the management. It is disgusting how the shareholders are treated in this company.

What can I expect from evolving gold in the future? What do I have to look forward to?

He replied with the following..

Yes, the stock is not where any of us want it. It is certainly open for debate whether the stock should have been at 80-90 cents before summer (I imagine most shareholders thought that was too low), but certainly anything around 60 cents is much, much too low for this company.

I know it is probably little consolation, but I have very recently joined the company, and I did so because I thought the projects were very good, the geological staff is outstanding, and I really think the CEO (Bill Gee) is a credible, honest and skilled person. He hired me. I was eager to get involved, because I think it is so oversold and undervalued. Though of course that is likely a reason for a lot of your frustration. There has been so much transition here, with a new CEO, new CFO, PPG spin out, JV at Rattlesnake and new focus in Nevada…..and none of it has been well communicated to existing shareholders or the market.

I for one think that the problems that have led to the woeful share price performance are fixable, and that future operational success will propel the stock forward. If we had bad projects, poor geology staff, and a bad CEO, that would be hard to fix…but I think our biggest problem in translating operational success in to market success has been a lack of responsiveness to shareholders, a lack of being able to clearly communicate the value of the company, and a lack of sustained marketing to the right audience.

Regarding some of the stuff on the boards. There is not much I can do there, except report libel and spam. I have done that today with the person/persons spreading falsehoods regarding Sprott’s position in the company. As of 2 weeks ago, Sprott owned 7.9% of the company in 2-3 different funds (not 1). But this is part of a concerted effort, in my estimation to try to induce panic in weak hands, and to knock the price down based on rumour, speculation and falsehood. It looks like an organized approach that some unscrupulous investors take when they want to buy a chunk of stock, but don’t want to pay the going (fair) price.

What I think will combat that quite successfully after Labour day, is consistent and quality news flow and marketing. With 5 drills turning I expect a steady stream of drill news through September. For what it’s worth I’ve attached a fact sheet completed yesterday that we’ll be using in our initial marketing efforts (the corporate presentation is used for meetings, which is also being updated currently) and mail outs to brokers around the country. We will be very active in marketing in Canada and the US over the next 8-9 months.


Only time will tell