Today, two more shareholders threw in the towel on their Louvem shares by hitting a .43 bid. The chances of their selling at an opportune time are fair to nil. The two buyers of the total of 6,000 shares look more in touch with reality.

The Beaufor gold mine is jointly owned by Louvem and Richmont Mines. The mine made 6 cents in the first quarter. Drilling on the property was increased near the end of 2007 due to improving grades.

In 2007, 25,000 metres were completed. In a joint November 1, 2007 Richmont/Louvem news release it was stated, "The underground exploration uncovered five zones below the 20th level of the mine with very good gold intercepts."

It appears Louvem's shares are quite undervalued with earnings for 2008 looking to be at least 10 cents a share. With the last of .43 along with my minimum expected earnings for Louvem of 10 cents that makes the company currently selling for 4.3 times expected 2008 annual earnings.

The only possible negative news for Louvem's shareholders would be if Richmont makes an offer to buy the other 30% of the shares they don't already own and it is accepted by the majority before gold goes much higher. The possibility of that happening doesn't look good at the moment for stock with Richmont's shares under water at $2.71 and I don't believe Richmont would make a cash offer as they are involved with other projects.

Our day is coming.

Go Louvem!!