we will have a good indication if we have the goods or not. I believe we do and have backed that up with a solid position in the company. However, this is still speculative at this point. However, the next set of assays will have much to say about the potential of our company.

I am not really nervous about a 2008 style market crash this time around. The markets, the political leaders and the market players are much more aware of what is going on then the first time and they have no choice but to defend the status quo even if it means QE3 and more. This will not be over in any short amount of time. Here is a quote from a CNN article:

"Well, if history is a guide, it could take a while," Chambers said. "We've had five governments that lost their AAA that got it back. The amount of time that it took for those five range from nine years to 18 years, so it takes a while."

So, in this time of high unemployment, fiscal restraint due to the debt situation, low interest rates and lack of growth in GDP in most of the industrialized world, gold will keep being supported to higher and higher levels and silver will as well.

The good gold juniors will get their day and as we are knocking on the door of $1700 spot gold price and entering the seasonal strong phase of gold prices. I think $1800 gold by the end of the year is not out of the question. Actually, unless there is a complete collapse of the financial system, I think it is even probable that we will see this number by Christmas.

Combine this with gold companies having record profits, record balance sheets and shrinking reserves and you have a great recipe for a few take overs in the junior space. That is all it will take to get a repricing of all the gold juniors IMO.

We are sitting on a great property with a great first round of assays and great visuals from the second round. If any of these 4 sections of over 40m of quartz tourmaline come in mineralized anywhere near where our first assays came in, then we will be on the map very quickly. Being right next to Val d'or where the gold infrastructure is already great and companies with mills want extra feed, we will be a natural choice for a take over target. Robin has said that there is no plan for us to ever mine this ourselves and I think that this is the right approach when there is so many suitors close by. Let them come to us.

First we need assays to confirm that this is potentially the next high grade, multi-million ounce gold deposit on the Cadillac trend. Then we need a third (and much bigger) drill program to get underway asap to start establishing the resource we have. This company may look very different in 6 months.

Glorieux