We just closed 2.92M dollars worth of PP in hard dollars, very impressive when you consider we were over subscribed in this environment. However, there were a total of 17,106,669 warrants issued in connection with this private placement. Those warrants were priced at 25 cents and when executed (they are already well into the money), they will represent another 4.28M dollars for our treasury.

We also have 4,100,833 warrants at 15 cents for another 615k$ from the previous PP back in December. Altogether, this represents $4.9M dollars for our fully diluted 129M shares. The great thing is that most of the investors in both those PP are here on the board and have already held informal discussions about exercising our warrants when the company needs the money, assuming that everything is developing as we believe it will. This almost 5 million dollars will keep the company going without having to go back to market so soon and will keep our share structure tighter in this early phase of exploration. There is a real camaraderie that has developed in this small group of individuals and we really want Golden Hope to workout for the best for everyone and we will do what we can to support the company.

Today was another great day...the board is quiet and I assume this means many are celebrating their winnings!! What impressed me today was the volume and the small retracement we had after our initial run up to 46 cents early this morning. I sold a small portion of my portfolio early and was waiting for a hard pullback to load back up. Well, that pull back never came and when I saw how things were going this afternoon, I bit the bullet and bought back only 2 pennies below my sell price. We finished the day with 6.9 million shares and I have to admit, this surprised me! A few of us know how good this property is but I do not think the average Joe realizes the potential that this gold belt has. Considering how much we have run up, I expected a pull back. The fact that we did not get one leads me to believe that someone with very deep pockets, possibly institutional has taken an interest here and is accumulating a position. I am only guessing here but that is how I read the tape today. It was not a day to take profits based on how the daily candle finished. I would not be surprised if we broke and held 50 cents tomorrow. However, I would like to see a week of consolidation at these valuations to get rid of the weaker hands before we release our assays. That would lay the ground work to push us up even higher.

Now, about those assays, I think we need to keep expectations within range. We are looking for a low grade high tonnage program. We know the nugget effect means that assays underestimate our grade by at least 50%. So if we get assays of 2g/t over 10 meters or more, I would consider this excellent results.

The HUGE kicker will be when they move the drill to Beland. This area is 7km from the Timmins 1 zone and was identified by SGH as our best target. A big hit here and speculation of a 7km strike length of gold will send this stock into a frenzy.

OK...I am done, tomorrow is another day, sweet dreams everyone!

Glorieux