Fair point regarding the post-FT share price decline, Frank.

You´re most likely right, this doesn´t apply here because of the immediate closing of the PP.

<<<When you consider the results we had on our first drill program, drilling pretty much blind, I really like our chances now with all the downhole geo done. From what I am hearing, we had really cutting edge technology used here and the targets generated have some really great potential.>>>

Yes, I have high hopes for this Phase II drill program at Regcourt for exactly those points.

Plus the fact, that the program has been increased significantly:

Abitibi was recommending 4 holes for 980m, GAX was planning 8 holes for 2000m ish and if Penderite is correct, the BoD would have approved 13 holes with over 3000m of drilling.

I strongly recommend for anyone interested in this next phase of drilling, to have a closer look at the Abitibi 3D IP report, which I have posted in the "Link Library" section on the left hand side of this page.

Abitibi is recommending 4 holes to reach 5 targets, because hole RG11-12 is designed to pierce both near surface target structures C1 & C2 at the same time. They had identified 13 high priority targets in total, so we seem to drill them ALL now and not just the 5 most favourable ones. Very good sign !

I was wondering why the "jewelry box" target C4 just below the existing shaft was not recommended. It will be very interesting to hear from the company, if this target (although already confirmed as high grade with 3.6m @ 79.37 g/t Au / 5.0m @ 19.2 g/t Au) will be drilled again to confirm these fantastic Phase I results.

Robin is pumped, I´m pumped and I definitely will be buying more at these levels to average down ;-)

FANTOMAS