You are absolutely right Andy. At 10 cents, that gives us a MC of 5.1M dollars. Red Ore IPO which is close to being done I hear will be at 30 cents and we own almost 9M shares of it or 2.7M dollars worth, add our 1M in the kitty and that means we are only getting 1.3M value for Regcourt and our other properties. There is lots of value here still and with 6 holes to go and the big granodiorite plug on the eastern edge of our property, this horse is far from dead.

The news however today was crushing no doubt it, we all had much, much bigger aspirations. Abitibi's new technology looks aweful at the moment and MRB's visual report to the company should be questionned as well.

Am I happy today...not at all!! Would I take this bet again with all the same info, yes I would. We got a 30% haircut on our SP with aweful results. If results had been good or great, we would of been looking at a 100-200% upside potential. Now we wait for the other 6 holes and hope they show more results. Hopefully a NR soon that Red Ore is trading. Then let's get drilling again!

Glorieux