In a recent press release Silverado stated that over $1,000,000 of large jewellery grade gold and collector’s nuggets have been recovered and polished for sale.

The gold recovery and processing operations at the Nolan Gold Mine, Alaska, is almost complete. The infrastructure necessary for gold recovery during the next season is now in place.

As we all know it takes time to establish a mining operation and we need to be patient. Once production increases then all the world will want a piece of the action, the stock price will be considerably higher than it is now with the opportunity to be first in and best dressed will have already gone.

Last winter Silverado mined only 25% of the gold bearing gravel in the Swede channel, leaving the remaining 75% of the gold ore for this winter’s operation.

In addition to the Swede Channel, they have located other gold channels, which cause gold to accumulate on ancient hillside “benches” as the channels drain gold down the mountain from its source, these are still to be exploited.

We bought in at eight cents and will take this opportunity to buy again as Silverado is trading around six to seven cents. For the purposes of measuring our performance we will use the eight-cent price, as we believe it is only fair to do so.

05 August 2006