blast off: gdn rocketed up 18% on friday, page-16

Hi Byron, I feel quite strongly that there will be some significant twists and turns before this thing is done. The introduction of a new player at this late hour heightens my suspicion level somewhat. Are the new players here to save GDN or pick over its carcass? One final twist of the knife for shareholders, perhaps?

If I were still holding, here are some of the questions I'd be putting to management at this time:

1. When did GDN management become aware that proven commerciality was a prerequisite to lease renewal?
2. Is abandonment of the field being considered, or is it the preference to prove commerciality by the required date?
3. Are funds set aside for any commerciality work?
4. Are there contingency plans in place for the company should (or when?) the lease not be renewed?
5. Do GDN management think that the current SP reflects the true value of its underlying assets, EXCLUSIVE of Golden Eagle ie the value of what's left?
6. Is GDN an ongoing concern without Golden Eagle?
7. If no to Q6, why are they getting rid of their gold assets?

As one of the few remaining holders, and given your close relationship to management, I would recommend that you ask these question quite soon.

-Disco