This board is becoming a joke. Trust your due diligence people, there is a reason you bought into this company. I talked with roger thomas today for over an hour on a variety of topics, if you would like to PM me i will do my best to relay any information I gathered today. I will also go through a few of the main points with any readers who are browsing this page. First off, dispell your insecurites about this recent trading action theres no reason to believe theres any negativity in the drill assays. They have reported under 20 holes of close to a hundred they have drilled. Some of these have been the best to date, some have been good and some have been not so great but theres one common theme, they have encountered mineralization in every hole. Even the lower grades are completely economical especially at golds current price. There looking for porphyr mineralization and there conistantly hitting it as well as visible gold quartz veins in many holes in the ENE section. This is very promising as according to roger the porphyr mineralization is associated with some of the best holes recieved in the preliminary block model. Not only are they seeing that but with quartz veining in some of the cores this indicates some of the holes might just be nothing short of spectacular.

One of my questions was whether the preliminary block model's orginal resource estimate of 2.5 million ounces was still on target as we now have some drills in on the block. Roger believes, as well as Genivar that this is still a very conservative estimate. To date many of the drills havent exceeded 150 meters, and with the cadillac trend having historical depths of well below 400 meters theres much more room for this estimate to be exceeded. With the Waste pile section of the block showing very ecouraging numbers, the room for growth continues to excite both management and genivar. MK1489 wrote on todays blog:

Skeptical on Phase II Extension and the Need for Cash.
On September 15th, 2010 the company announced that developments on the ground warranted an extension of the Phase II drill program. Immediately this raised red flags in my mind. I can admit that it is completely likely that targets on the ground were so promising that the company wanted to immediately begin exploring them.There is a second scenario. I am fairly worried that the reason that the program is being extended is that the Phase II drill program was not as fruitful as the company had hoped for (otherwise these targets would have simply been drilled in Phase III).

I asked roger why they decided to add 5000 meters to the phase two drilling rather than wait for the phase 3 drilling to begin and the answer, quite simply was to keep the drills turning. According to roger if the drills stop turning they have a long list of clients that are waiting for there turn, similar to the lab assays being backed up. So if they keep the drills busy they can lock them in until the next phase of exploration. How could the drilling not be fruitful MK1489 if they havent recieved the assays back?? They have enough cash in the bank to keep the drills turning until then so it seems it was a strategic move to keep them on site. Not only that but they believe the high priority zones are in close proximity of the Veins 1 and 2, which are the high grade zones which run through the property where the historical mines are located east of the block. Also in conjuction with the quebec ministry of mines report which stated 10 grams per tonne in some holes. The plans for phase 3 include not two but four drilling rigs on site at once. If MK1489 would have followed up with some research rather than jumping to conclusions he would have known this was the case. There will be financing before the phase 3 program begins but this was never an issue for management, as this is a natural and necessary step for junior explorers to proceed. To date they have removed the waste pile, built roads, took bulk tonne samples to get an idea of the grades, drilled over 20000 meters and have many holes to report on, and plan to have a very large and aggressive phase 3 drill program with a 43-101 on the original block by the new year. If anyone has insecurities or questions by all means PM me or call roger... thats what he is there for and he was very helpful and curtious. As for the basher activity, what sane person post 15 times a day bashing a bad stock? Zero credibilty for blue eagle, Frozenone and Sponge. Due some diligence and you will find this stock has only one way to go. Hope this helps