GOLD HITS ALL TIME HIGH IN NEWYORK - WED. PM.and it`s only going higher in my opinion with the amount of uncertainty in the markets. As the European debt crisis continues to intensify and the American government prepares to print even more greenbacks to stave off complete financial collapse, we find ourselves on the cusp of seasonal strength for gold aswell. Sure the gold chart has peaks and valleys over the last 5 years but the trend is undeniable...currencies are failing !! Gallahad is set to deliver it`s second phase of drill results on a long forgotten mine, and they just might be impressive indeed. Lets recap phase one highligths-----79 g. over 3.6 meters....that`s approx. 3 oz. of gold over 13 feet.......WOW !!, 131 g. over 1 meter....that`s approx. 5 oz. over 3 feet. Pretty impressive for the first sinking of holes in this overlooked play and "maybe' we merely side swiped the bulk of the vein - deposit. Then the follow up IPO identified even larger targets and we went after them. An earlier statement confirms we hit these targets with phase two drilling, as did IR when I spoke with them last. Now the big question is " What is contained within these anomolies ' ? We will know soon enough, but considering the spectacular results from phase one....well, the potential here could be very interesting. Sure it`s a throw of the dice but with gold firmly entrenched in a bull run my bet is the odds look pretty favourable here. If phase two delivers and outlines further exploration potential through the most recent down hole imagery....Gallahad will surely enjoy a much, much higher SP. Redore IPO is also rolling and with support from great Regcourt assays that IPO will be filled rapidly, perhaps even over subscribed. Excitement is building in the gold sector and the junior exploration plays with the best propects will be multi baggers. Lets hope GAX falls into this category, I would suggest that now is not the time to be dumping your GAX shares, however there may be a spat of emotional selling when the CTO is lifted....I for one will be buying more ahead of the exploration news if we see a 10 - 15 % sell off. The market is looking for a darling as we grind through these turbulent times. Gallahad is one of the better bets out there. IMHO..... GLTA..... SS