Golden Hope Mines

Earl,

I hate to state the obvious here, but you are the root cause of this expense. This may actually be a better example of your attitude than GNH management's.

I imagine that if I was the president of a publicly traded company, and I was accused of some type of impropriety by a very disgruntled shareholder, with an axe to grind, I would want to make sure my response was bullet proof.

I aplaud your overall alacrity: you have brought up some good points with respect to the company's overhead-cutting some fat in a company this tiny, with no revenue, is clearly the right thing to do. However, I have to say that my impression is that your mission is primarily to make Frank Candido personally feel the pain of your spilt milk. Don't worry-I'm over a 100k in the hole here too, and none too thrilled about it.

At the end of the day, I suspect demoralizing the management team will not help with our share price.

Luke