Put yourself in Brian's shoes - as a professional, his note is what you would write, and it would be the right thing to do. I don't have his mining knowledge, but I would hope to write the same thing.

Pendulum has swung too far on Golden Mile - don't forget that the gold ounces/ton found there haven't changed a bit. Everyone is understandably unhappy with the share price, but what's in the ground hasn't changed. There will be a 43-101 and it will have ounces in it - and therefore not comparable to SGX, which has no ounces and forseeably will not either.

I think we know pretty well where we are. Everyone knows that the huge initial indications of the GM didn't carry through as far as we dreamed, and probably couldn't - they were overhyped. But really, that's old news. The high grades there are still there. Thankfully we have a bunch of other great prospects too.

The market hasn't been loving these small explorers, and that's nobody's fault here or in the company. The Fall of 2007 was a peak of exuberance and we will have to do with less market mania and just hope to find what's to be found. Coach bought in not long ago because he figured the prospects were good.