$10 per ounce gold, page-5

Hi Guys,

Just bought into CVY mostly based on the fact that Peter Palmedo has a stake in this company and has increased it while the shareprice has gone down. With this fact we must note that the Sun Valley Gold Fund is quite large and his circa 9.7% stake is pocket change in his portfolio allocation so he can take quite a bit of risk on his CVY position.

I dont know if you can directly compare CVY and Rainy River(RR). There is a massive resource difference, they have a feasibility study and know to a certain degree what the costs are for the project, they know to a certain degree the time frames for production and instituitions have caught on to the prospects of RR.

But I SO agree with you that the potential for this is huge! CVY has upside on more positive drill results (this district is absolutely phenomenol with past gold finds), the EV/Resource multiple expansion when the merger and listing on TSX-V is complete , gold and silver spot price increasing and the potential for a takeover. I do see gold becoming a bubble in the future so will greatly help CVY (This assumption was formed by listening to Clifford Bennett someone I have great respect for).

Please note I am still learning about the mining industry so am highly likely that I am wrong with my ramblings.