A quick update of our portfolio shows an overall increase in the value of our investments of around 32.6%, since July 2006.

1. Agnico Eagle (AEM) we paid $30.88 and it now stands at $41.05, a rise of 32.93%, which represents great progress.

2. Bema Corp (BGO) paid $4.56 and it now stands at $6.24, a rise of 36.84%, another terrific advance. Our investment in BGO will soon disappear as it has been taken over by Kinross. A replacement is being sought.

3. Kinross (KGC) we acquired at $10.08 and this stock now stands at $14.04, a rise of 39.29%. Once the BGO takeover has been completed we will review KGC again as we may be a little top heavy in this gold stock.

4. Silverado (SLGLF) we bought at $0.08 and it now stands at $0.132 a gain of 65.00%. Good news coming from the Nolan Heights project has helped to lift the stock price. The green fuel side of the business has had a boost in terms of news, with the $29 million go ahead for their first operating plant.

5. US Gold Corp (UXG) we bought at $8.40 and it now stock stands at $5.13 a fall of 38.93%%, having experienced considerable volatility. We are disappointed, however we will wait and see if Rob McEwen, the company Chairman can work his magic once again.

6. Yamana Gold Inc (AUY: NYSE) we paid $9.37 on 27 September 2006, it is now trading at $15.06 for a rise of 60.7%.

If we placed an equal amount of money into each of these mining stocks then the overall gain is 32.6%.

Overall, we are really pleased with the current performance of our selection of six mining stocks. We will continue to buy and hopefully position ourselves for coming bull market and a run at $1000.00.

We welcome any comment that you have and also invite you to tell us about your favourite gold stock.

Always discuss your investments with your regulated financial advisor before putting your hard earned money on the table.

30 July 2006