Here is the responses from my discussion with frank on saturday. He is great and e-mailed back within an hour on saturday night. i was more than impressed.

he attached fact sheet gives a concise overview of the long bar zone discovery and progress. The drilling is going well with about a third of the 20,000 metres being completed. The assay labs are way behind schedule with our results, since we were promised them 3 weeks ago. The timing of these results is beyond our control.
The share price correction was likely a combination of events, primarily the general market fears triggered by debt concerns around the world. The delay in assay results did not help since the sp had move up aggressively on expectation. This pull back is quite healthy since it will give the sp a firm base to bounce off. Keep in mind that we are still in the early exploration stages and it will take another 3 years to unlock the full potential of Granada. Day to day fluctuations are unpredictable and are of little interest to me for this reason. The target over this 3 years is to complete about 300,000 metre of drilling.
The company's cash position is about $4 million since $2 million was also raised from warrants being exercised. An additional $2 million will come from the Quebec government in tax rebates before year end.
I hope that you have the confidence to stay the distance,

Regards,
Roger Thomas

The 16c warrants expire on July 10th the majority have already bean taken down. Next group are at 30c which come free trading around the middle of August. Financing needs will possibly be in Sept time frame, but may not have a warrant attached and we expect the issue will be at higher prices.

Thank you for you kind words Darren. We had a total of 12 million warrants outstanding but about 90% have already been paid for, hence our strong cash position. Myself and another insider have some to exercise next week. If the upcoming drill results continue with the same success ratio as our last program in January I'm sure the price is attractive.
The President and I are going on a marketing trip on 11th July to Baltimore, Boston and NY for 4 days. We were there 6 weeks ago and the sp hit 2 new highs during the week. We were in London/Zurich 10 days ago and the sp also hit a 71c high that week. This future trip will target institutions and gold investors who so far know nothing of our company. With a strong gold price and having Osisko's road map to follow makes our job a lot easier. As I said though, it is early days and a lot of work/drilling still needs to be done.
Regards,
Roger Thomas

Hope this helps,

D