new, page-9

re: buyers building - pusssycat Lyns / Pussycat

My understanding of Chalice vs Avoca as follows. Avoca have around 118 million shares at around $0.68 so valued at $80 million. Chalice 37.5 million shares (lyns - not sure where you got 75 mill) at $0.30 (todays price) so valued at $11 million.

Chalice have the ground ( a fair amount of it) next to Avoca's Trident discovery in Higginsville near Norseman around 200 km South of Kalgoorlie. Trident now 460,000 ounces - think they are still drilling.

Fairly confident that the ground close to the Trident lease boundary shoud have good drill results - I believe that they are going to target this area first. I think two drill rigs to start in next week or so. Will basically be working along side the 2 or 3 Avoca rigs.

I think there is a very good chance that they will hit gold and could result in a substantial re-rating of chalice.

The announcement of the listing on the stock exchange in Germany is very interesting to say the least since Chalice did not apply for it themselves. Guess you have to read the announcement but indicates that a German broking firm has requested that they be listed. One can only assume that they must have a fair amount of interest in buying Chalice shares.

Certainly has been a fantastic 7 trading days since Chalice listed (up 50 %). I can only see them continuing to rise.

Stevo

(ps: I brought in at $0.25 last week and in for the long haul)