Well, I have to congratulate the GNH team for getting us these results in record time. I was told that these results would be out in June, maybe May if things went very well. Talk about under promising and over delivering-thanks Frank and Co!

Now I will look at those results more carefully over the weekend but at a glance, they seem like good results. The market was not impressed but I was told that the anonymous seller that capped our rally was Joe Dwek who had one of his contracts come up where he had to liquidate that position. C'est la vie.

However, I also notice that Raymond James has been a very active buyer today and currently has an icerberg bid at 28.5 so someone there thinks there is good value here. My hunch is that with the PDAC and the bigger boys needing time to analyse these results, the real market reaction from this news will come next week and we should see our SP out of the basement as people realize this story is still being written. We do have an ugly chart to contend with but fundamental changes like the bulk samples here should provide a good turning point.

Glorieux