This is parts of an email I received that may be of interest to others:

Question: Now what. I'm out of answers and certainly am not loading up to average down. 106 was totally disapointing...what didn't we get here. I thought they were going to run into other holes that were proven commodities. Saw one explanation on stockhouse but, ????  Is it time to put a fork in this one. Am I right in estimating from the PR that they will be moving to another area to drill so, they are basically starting all over again with this game of battleships ??? Appreciate your candid response.

Answer: I may be the eternal optimist, but despite what the market says, I still believe in this one.  They still have not drilled a blank hole recently and from my understanding they should be able to mine down to 0.5 grams/ton gold.  With the copper credits they are well above this.

The problem is they hit big at the beginning.  Everyone and his brother jumped in and bought stock driving the stock up very quickly to $2.00/share.  When the following press releases did not measure up to the first (and let's face it, how could they?) everyone (and their brother) sold in large volumes.

So now we are sitting at about 50 cents/share.  A price probably lower than what the discovery is worth.  The speculators and the guys looking for a quick profit are gone as witnessed by the Bullboard posts and this is what has driven the price down.  Now we are in the long and tricky process of defining an ore zone.  Not very "sexy" to investors but necessary in order to move this thing forward.

It appears to me that all three zones will hook up and there will be a mine here one day.  Before that, a major will jump in and pick up the whole thing for a stock price at greater than $2/share.  As someone said on the Bullboards, they have lots of money in the treasury so no need to raise more and dilute the price of the stock further.

Question: I don't disagree with what you are saying but we could be seeing a long period of inactivity here which translates into dead money. Am I right in assuming that they will be trying to join the 3 areas they have together somehow to show a continuum of gold which will translate into more ounces and maybe easier to mine..... as you said, the 3 will hook up possibly but I think we have seen the end of the glory  holes on this one. The hooking up process will mean more drilling in undefined or unproven areas which means more mediocre holes and perhaps total misses as far as gold is concerned. Could be a long period before a take out and of course, how many investors in junior plays are anticipating and hoping for a take out of their favourite stock.  In the interim, lack of activity could mean the share price drifts down in the low 40's. Might not be pretty to watch!

Answer: There will be no lack of activity with 3 drills here.  Deeper drilling on the other areas to the south could produce some surprises.  I think you are right on the stock price drifting down though.  Even if they hit a big hole it will not have the same impact as the first holes because a good part of the northern anomaly has been drilled off.  The exception to this will be if they hit big in a new area.  This could boost the stock price dramatically.  Lots of people are watching this stock hoping for the smallest sign of encouragement so if this happens many people will jump back into the stock and drive the price up.

In other words I think your observations are correct.  In my experience in projects there is kind of a Murphy's Law of Mining

1) The least likely projects always hit.  Usually the project that I have the least faith in turns out to be the best.

2) When it appears that all hope is lost is when you get the biggest surprise.

Good Luck everyone!