This is a very sore time for shareholders I would presume.

GNH I think was kind of a pop-culture phenom and while it is clear that there is nothing wrong with the project and where it is headed, the amount of hype surrounding it was very high. I was probably one of the more significant proponents of that hype with my many site visits.

Here are some FACTS.

GNH is in a region that has never been mined for gold.

The Beauce was the most heavily staked region in Quebec in 2009, the most favourable district to mine in the world (Quebec, not the Beauce).

GNH's property was discovered to have several regions with extremely high geochemical signals from Actlabs indicating the presence of gold. This over a 7km stretch.

Quartz and quartz-diorite (the host rock for gold) was the kind of rock coming up from the drilling.

The cores had extremely high occurrences of visible gold. (more than I have heard of anywhere else)

Jim Tilsley, a professional and highly respected geo came out of retirement to work on this project.

Bulk sampling from the SURFACE gave us a grade of 3g/t! In Quebec!!

Historical bulk sampling assays are incredible.

These are some of the FACTS that led to GNH having a major run-up in share price. All of these facts are still true.

AND THEN.......the drill results came. And they were fine. But they did not meet the expectations that had been built up from the amount of GNH'heads that walked, talked and breathed this property - which appears to be nothing short of perfect as a place to build a mine. Infrastructure is in place.

Now the junior explorers are feeling soft and many are getting beat up. Gold and commodities are staying strong but juniors seem weak. They say 1 in a 1000 actually becomes a mine so they are all a gamble, and really most might be completely worthless.

I think it would be easy to make a case that GNH is both undervalued and overvalued by comparing other companies. It is what it is.

My opinion is that Candido has always been doing the right things for this company, or at least trying his best. They've done a ton of work on the property, they are well-funded, they know where to go, and where not to go and they will probably have a better idea when SGS is finished their work.

I hear they will be getting a drill soon on the property even before they officially determine their 2011 program because they want to make sure they have a crew and there a few holes that need to be drilled regardless.

I think it is a major shame that they think they didn't go deep enough on the 88 bulk sample to get the kind of rock they were looking for (this is noted in the AGM package), which they think explains the lower than anticipated results. This goes to the Chocolate egg theory. They bulk sampled the chocolate (super hard diorite cap) and not the rich yolk centre (diorite with quartz injected in it). Not sure how you remedy or sugar coat that one? I guess you don't and that's one of the reasons we are here.

I think other companies are drilling in the Beauce now which may help out and validate the staking rush that made GNH look like such a prime investment quite recently.

Personally I can't believe the major producers are down as much as they are. These companies are making money hand over fist right now and it will begin to show in their quarterly reports going forward. I think many are waiting for a bubble to burst in gold, or for the other shoe to drop in the US.

GNH has a strong, honest, and professional Board and can do a lot of work with $3M in the bank. They best put all that to very good use this year and perhaps then things will turn around for good....