Recent  Value    Value     Cash  Shares  Au res. Ag res. Cu res.
                                Share  Au oz  w/o Cu/Ag         fully   mm ozs  mm ozs  mm lbs
                                Price           Au oz           diluted

Metallica            MR.TO        4.14 -117.8	68.2	  30    101.1	5.7     130    2000
Seabridge            SEA.V        15.7 -23.5	30.8	  6	35.7	18	0      2442
Minefinders         MFL.TO	  9.5  -20.3	75.8	  94	51.4	5.      250	  0
Gold Reserve        GRZ.TO	  5.34 -4.2	46.9	  34	95	10.1	0      1290
Mundoro Mining	    MUN.TO	  2.05	8.4	 8.4	  18	47.6	9.5	0	  0
Kimber Resource     KBR.TO	  2.65	12.7	88.4	  14	52	1.4     53	  0
Metallic Ventures   MVG.TO	  1.8	13.2	13.2	  17	59.3	6.8	0	  0
Bendigo	           BGOMF.PK	  0.62	21.5	21.5	  27	432	11.2	0	  0
Great Basin	    GBG.TO	  2.28	21.5	22.5	  37	115	10	5	  0
Western Goldfields  WGDF.OB	  1.52	22.4	22.4	  7.9	111.4	7.2	0	  0
Crystallex	    KRY	          2.95	24.2	24.2	  15	259	31	0	  0
Amarillo Gold	    AGC.V	  0.57	25.8	25.8	  1.4	34.2	0.7	0	  0
Dynasty Metals      DMM.V	  5.93	25.9	34.6	   7	28	4.6    20	  0
Greystar Red.	    GSL.TO	 10.84	29.9	38.7	  30	42	11     48	  0
Comaplex	    CMF.TO	  3.15	38.7	38.7	   6	40	3.1	0	  0
Cumberland Gold     CLG.TO	  5.67	41.3	41.3	  28	61	7.7	0	  0
Anatolia Minerals   ANO.TO	  3.64	44.6	44.6	  14	70	5.4	0	  0
European Minerals   EPM.TO	  0.82	45.1	73.5	  62	416	3.8	0       269
Moto Gold Mines     MGL.TO	  6.93	45.4	45.4	  55	70.2	9.5	0	  0
Axmin	            AXM.V	  0.86	48.7	48.7	   6	177	3	0	  0
Stratagold	    SGV.TO	  1.04	50.2	50.2	  14	129.4	2.4	0	  0
Ore Zone	    ZN.TO	  1.64	52.5	52.5	  25	124	3.4	0	  0
Banro	           BAA.TO	 15.75	57.2	57.2	  60	42.3	10.6	0	  0
Searchgold	   RSG.V	  0.14	75.2	75.2	  0.51	138	0.25	0	  0
Linear Gold	   LRR.TO	  7.05	85.2	93.1	  11	24	1.7    6.7	  0
Lake Shore Gold    LSG.TO	  1.6	101.8	101.8	  17	99.7	1.4	0	  0
Ballarat G.F.    BLRTF.PK	  0.18	103.4	103.4	  9.2	1200	2	0	  0
International Min  IMZ.TO	  5.45	107.1	109.0	  5.6	101	5     4.6	  0
Aurelian	   ARU.V	 37.62	123.2	123.2	  85	35	10	0	  0
Miramar Mining	   MAE.TO	  5.99	137.5	137.5	  140	230	9	0	  0
Gabriel	           GBU.TO	  5.13	153.4	189.2	  30	146	3.8    68	  0
Kirkland Lake      KGI.TO	  9.2	211.0	211.0	   5	51	2.2	0	  0
Sacre-coeur Mins,  SCM.V	  2.7	231.2	231.2	   7	24	0.25	0	  0
Minieres du Nord   MDN.TO	  0.66	232.0	232.0	  0.3	105.9	0.3	0	  0
Etruscan	   EET.TO	  3.9	284.4	284.4	   27	116.3	1.5	0	  0
Osisko	           OSK.V	  6.65	812.0	812.0	   6	64.4	0.52	0	  0