broker's report, page-2

re: broker's report-gtm Chippy,

Many of the shareholders cannot understand accounting, and have taken the "COSTS" previously reported ,to include the mandatory non-cash charges which in the last report resulted in an accounting loss. In fact, GTM had a substantial cash surplus.

The broker's report is valuing at 10 cents and that is on the low side if you consider all the infastructure that GTM has available. New exploation floats selling at more than GTM have no airports, no water, no power, no roads, and no $150 million treatment plant running at 98% recovery. Keep in mind that GTM also has some 50 untested exploration targets.