My thoughts on this release is that it was not worthy of a halt from a market perpective. Lots of better results out there were released without halts. However, when you take into consideration previous GNH results and where hole 162 was drilled, into the Snow White area, I can understand why they halted it. Zone 88 aka Snow White seemed less likely to be economical after the bulk samples there and the drill results. This hole makes the Snow White area viable again IMO. It also lends some credence to T1/2 and 88 being joined at depth. Now, this is highly speculative and the market has no time or money for speculation right now with everyone expecting a big fall. In another time, we would of been rewarded for this kind of results. Now, we have to wait for more results and the 43-101 resource and hope this market finds some stability.

The financing is the safe thing to do. We do not know what is around the corner market or gold wise and making sure we have 12 months+ in cash in this market was the smart thing to do.

Hope this helps,

Glorieux