Hey guys,

I had the chance to meet up with Frank and Sasha on their recent trip to Toronto. When I first caught up with them, they had just come from their final meeting of the day. To me Frank looked a bit of a NY gangster especially in the way he was clutching a large black box. "Here's what you want to see" he said, handing me the box. The box was heavy and I thought I knew what was inside, but I let my mind wander to the possibility that it contained random body parts of a reputed GNH basher (note to self.... gotta stop watching The Godfather).

I opened the box to find inside the core from hole 167- the same one Frank had with him on the DecisionPlus interview. It was quite exhilarating to see this glistening piece of core at close range and then to wonder how many more such clusters might lie beneath the surface of the Bellechasse claims. I think the thing that got me the most excited was that the inside of the core was nearly as spectacular as the picture of the outside of the core we have all seen on the web site. So, in spite of all the cutting and processing, there was still a considerable amount of gold left in the core (imagine what the grades could have been if all that gold was included in the total pulp metallic assays). What I liked the most about the way that the company released the news on 167 was to say - " Results such as those encountered in hole 167 are certainly very encouraging and need to be interpreted within the context of the entire deposit", with the implied message thereafter being "where we also continue to find lots of gold!".

Frank was upbeat about the share price support and the interest they were getting from bankers lately. He said that all of the meetings over their 3 day trip were at the request of the different banks and brokerage houses. I'm hoping that they were all as impressed with the hole 167 core as I was. He also recognized this Agoracom hub as one of the best networking tools for potential (and existing) GNH investors and that was one of the main reasons for the recent sponsorship deal with Agoracom. Kudos to everyone here who participates to make it so. The rest of the visit was spent on topics other than GNH as Frank and Sasha recharged their batteries before another full day of meetings.

I do have some thoughts on the recent hub discussion if you will permit my digression.

During my graduate training I was young, energetic, and thought I knew a lot about my own research topic. After each experiment that didn't go as I expected, my mentor would say to me: "You know Scott, nature does not owe us a living". He was reminding me that I couldn't expect to solve the secrets of the universe with a little knowledge and a good idea. I now try to apply that same philosophy to my investments in junior exploration companies, where mother earth still holds all the cards. This sobering reality helps me manage my expectations and puts into perspective the gargantuan accomplishment of bringing a project to production. Incidentally, I put the chances of me making any meaningful discovery in my own research at around 1/10. In the meantime I wait for nature to reveal her hand.

Perhaps that story is a roundabout way of me saying that, at this stage, I do not feel I have enough data to calculate the probablity of this project reaching production. But I would say that I have solid faith that, if nature does choose to be kind to us, GNH's management, exploration team, and engineering consultants are all moving us in the right direction to capitalize on this opportunity.

Best to all,

Scott