Hi Chad,
>
> Have we made any progress in drilling through the dike on hole #12? Have
> you sent in any core samples to obtain assay reports on what you have
> already drilled at hole #12? Are still expecting this 15 hole drilling
> phase at Cove McCoy is still going to be completed before year-end? Have
> you heard on the street that there are still hedge funds that are being
> forced into liquidating VIT?



> Tom,
>
> NW-13a is progressing well. We should be finished shortly. We went
> through 33 feet of dike material with little difficulty recently so we're
> optimistic that we can deepen NW-12 and maybe even NW-9. We aim to do
> that as soon as NW-13a is completed and we are sure of our new methods
> (longer rods, better drill mud, etc).
>
> Our trading volume is down so I think the funds are done. I am not aware
> of any other fund selling. Our stock was down on small volume today but I
> did see a seller of a block of 120,000 shares which is somewhat unusual.
>
> Chad

Hi Chad,

Thanks for your quick response. I know you and our company are doing
everything in their power to add to stockholder value. As we both know, the
ability of our stock to add traction and to recover to anywhere near its
former highs will be predicated on continued positive drilling results at
Cove McCoy and/or other VIT drilling result from our other properties, Of
course there are many other industry and economic factors that will play a
substantial role in determining how much value is added to our stock value.
Personally, I see many factors in the gold sector that are lined up in our
favor for a substantial improvement in the price of gold bullion and the
market sentiment toward well managed gold stocks.

Tom