EXCITEMENT MOUNTSI count approximately 26 million shares changing hands since the last news release. Subtract 20% for the day traders and you still have a sizeable chunk that has moved into stronger hands. This is called accumulation and no doubt by some very smart people. If we see strong numbers in the next set of assays for El Pato the share price should run to the 15 - 20 cent level fairly quickly, maybe beyond if we also see word of progress at El Arco. Judging from the strong volumes seen over the last couple of sessions, I expect further high volume days next week in anticipation of the aforementioned NR`s. With two very promising concessions, I venture to say that you will not see a " buy on the rumour, sell on the news " scenario play out after the NR on El Pato, excitement and interest for GDX will continue into the imminent program at El Arco....very smart having two projects on the go at the same time to keep investor interest perked. This potential multi million ounce company will have no problem filling the additional 45 million or so warrants at 10 cents, this will top up the till and I speculate stall any need for a further PP until a second drill program at El Pato and El Arco is plotted, contracted out, completed and results are in....so maybe early next year. Add into the mix a discovery hole at El Arco and all bets are off. Management knows that a non dilutive approach is favourable in order to increase share value, if however more funds are made available sooner it is never a bad idea to agree to more money as long as the company gets the funds on their terms. This seems likely as GDX looks to have the goods at El Pato, we just have to move it into a compliant resource. With a bull market firmly entrenched for gold and silver and two high potential projects there is no sense of urgency with GDX....slow and steady resource development is the name of the game. Seasonal strength for gold is also currently playing into the cards on this one. Those with a longer time horizon on this one will reap the best reward, once GDX breaks out I will look to add on the dips. I have looked but cannot find any statements regarding a mandatory hold on the 10 cent warrants, generally do the warrants become free trading upon purchase or are there restrictions ie: hold period ? Be comfortable with your risk exposure, continued DD is your best approach. GLTA.....SS