First and foremost we have the best board PERIOD. The dedication from the group to support and increase each other's knowledge is second to none. We should all slap ourselves on the back. Thanks again to the great crew that went to the luncheon and reported so diligently.

D12 said it great: Having Vale at the luncheon is BIG. Having him slap Nemis on the back is good annecdodal evidence of their relationship. All these lawyers lately at the office and Vale at the luncheon is all good to me.

Secondly, the fact that they are having more hits then misses at E2 after almost 10 weeks of drilling speaks volume. The fact that they are still there drilling 24/7 for that period of time is very positive. The rumour again is that assays for E2 are fantastic and that is the reason for the delay...everything getting done twice. However, they keep hitting there with better ratios and that to me confirms we have a second body of economical value. In the news release Neil Novak said of hole 08 that it was getting richer at depth. They were only at 127 meters when that statement was made. That deposit is approaching 190 meters with the second release. We had visible Pentlandite crystals a few mm in diameter which confirms the presence of Nickel in decent grade. We have a second body of magnetite at depth, up to 400m down.

We keep talking about proving up 10B worth of minerals to justify a mine and the required infrastructure. Genuity estmated E1 at 5.6B $ but wait, E1 is not cut off, they are still drilling there at depth and to the south west. We now have a second body that they have been drilling without assays for 10 weeks. This tells me that between E1 and E2 we have a great chance of getting to that 10B dollar figure and justifying a mine. Once we justify a mine, our In situe valuation should be 20% or 2B dollars...Our current market cap is where???

Oh did I mention that we are 3 for 4 on hitting mineralization in those anomalies. The miss at AT1 on the border with FNC was still not explained. Something is creating a high mag signal. We have not heard the last of that anomaly.

Oh did I mention that there are hundreds of similar anomalies identified and getting further attention ie other geophysic work ups.

Do I sound a little frustrated with the share price...Of course I am because I know where this SHOULD be but we are not. WE will get there and need to keep reminding ourselves of what we have.

We are right so sit tight!!

Glorieux