Goldspring Inc CEO Robert Faber Conversation with Bantoogi

October 1, 2008

I emailed Rob a few days ago to arrange a phone call for today which he agreed to. I phoned the mine office today, but Rob was in a meeting at the time. So I left my number with Denise his secretary, and after a couple of hours, to my surprise, Rob returned my call. Yes, it is true. I really did talk to him. Goldspring Inc. is in very good hands. Rob was very honest and forthright in answering my questions, and I asked him a couple of tough ones. During our conversation, I got the sense that he has a very clear vision of where he wants to take this company. I have to be honest with you all, there were times when I was tempted to push the sell button, especially during the past two weeks. And to me, this conversation put all my investment worries to rest.

So here are my questions to him, and his answers:

1) Given what's happening to our stock price in the last two weeks after the announcement of the 510,000 oz gold in the Merriman Summit, will Goldspring have enough financing to get us through to mining production next year?

His answer was yes. Goldspring is well funded, from the owners and from loans that they can secure through their connections. Due to time constraints on my part (I was at work when he returned my call), I didn't want to elaborate on how they would secure the loans.

2) What is Goldspring's main goal for this year? Are you looking to keep drilling in the hopes that the next drill reports would spur a buyout?

Here's his answer, and I think it is the most important piece of information to us investors. Goldspring's main goal is to get to mining as fast and as soon as possible. They are not looking for a buyout, except if the offer is very, very lucrative. Keep this in mind, because this is what separates them from all the other junior mining companies out there. Most juniors drill holes to explore their resource base hoping that they would strike gold and hope that a major mining company can buy them out.

Goldspring drills holes strategically to determine the size and grade of the ore bodies, so they maximize the output of each drill hole.

Every hole leads them closer to the mother lode. The strategy is to first target the low hanging fruit, the ones that can be extracted easily near the surface.

This is so that the can put in a mine and start production. The staggered mining approach is the targeting of the low hanging fruit in the Hartford complex while they continue to drill and expand their mineable resource. This is what makes Goldspring different from the others. They are aiming for the fences. They are aiming to get out of the OTC exchange and get into the main exchanges. They are aiming to become a major. This is the goal, and they are putting the pieces together.


3) Lastly, I asked him if we should be worried about the decline in the stock price.

Here's his answer. Goldspring is extremely undervalued, now more than ever. He said that the thing to keep in mind is the market cap and the company valuation based on the proven estimates in the ground. Virtually everyone's share price is down with the economic turmoil, so we have to keep that in perspective. Eventually, the share price will correct itself upward and reflect the true valuation of the company. So look at the undervalue as a great chance to accumulate.

So in conclusion, instead of worrying about the day to day share price, I'm looking for the low price as a great opportunity to increase my share holdings. I'm buying this week and next week for sure when funds clear. I just wish I have more cash on hand.

Lastly, I am sharing this conversation with you all because I feel that those nervous investors seeking comfort in their Goldspring investment can read this. This is all true. I am not a trader, not a pumper, not a basher. I am an investor who invests not in stock, but in companies. Now that I have a complete view of this company right from the horse's mouth, Rob himself, I won't even feel bad when the price drops (heck even if it hits 0.0001) because I know this company will not fail. Actually, if it did hit 0.0001, I'd buy the entire float if I can. I don't mind being a major owner of this company even if I file to the SEC, seriously.