Ann: Quarterly Activities and Cashflow Reports, page-5

rastus this was my point in my postings last weekend on Hot Copper.

IF this drill campaign which is in the same location as the May drill and comes up with similar assay results, the share price in my humble opinion would be back in the mid-2c area where it used to be. Then they don't need to capital raise again because of the amount of funding they would get from the option holders for the GNMOB's and GNMOF's exercising their call options.

So, the risk is poor assay results (which to date, due to the skill of a seasoned and reputable geologist we have) the share price goes from 1.1c back down to the very old 0.06 level when we had no gold resource (unlikely), or the follow up drilling confirms a potential sizable mining resource and initially the share price goes back up to 2.5c as we awaiting a JORC report on how much gold is down there.

It's all about high risk and return and do you think GNM has found a good prospective site that could feasibly become an eventual mining site like Kidston (was once upon a time world class) or Mt Carlton (which at that time came up with 3 million oz) which are in the vicinity in that region?

It up to you to make up your own mind.