Ann: Mt Cattlin Shipment Update, page-59

All I can do is shake my head.
You can see what is happening here don't you?
Those that want the share price to fall are on hear loud and clear making lots of noise to make people think negatively. If you want to think that way, I have no problem. I am happy to keep buying as the price goes lower. Most probably I expect this will be the excuse to drive the price down to $1.03 and if it does I will be a very happy man. I would love to buy your shares.

You see I first took a stake in GXY when it was at around a $1 (after consolidation price). It was a punt, really it had a promising future and nothing more. At that time:
- GXY had a business case that it was over the moon about a spod price around $600
- It had cash costs around $300
- It had debt
- It had to share Mt C with GMM
- JB and SDV were simply ideas
- planned output of 137kT
- no YOP
- no investment in LPD and A40

So if we look at a $1 back then which in today value would probably be around $1.5ish we now have:
- GXY receiving a price above $600 that they considered highly appropriate
- cash costs that are returning to be around $300
- have millions of dollars in the bank with no debt
- has full control of Mt C
- has made substantial progress with understanding and preparing JB and SDV
- output that should exceed 200kT
- YOP being bedded down with higher recoveries
- investment in LPD and A40 (and tailings being stockpiled to take advantage of LPD)

So the question for myself between the punt and purchasing tomorrow at $1 what has fundamentally changed? Which is the better use of a $1? Which buy is of better value?

You can argue all you like about communication. I agree it is not the best. But, sometimes you need to reflect. Why is the communication the way it is? I am sure they had well planned to provide the shipment in June, but have you tried managing a business it is hard. Sometimes things don't workout the way you want. They possibly waited to announce to say we are shipping this in July. Possibly before they had no answer. What would have looked worse? Sorry we didn't ship and don't know when - that is a disaster!

You can complain about the SDV deal, he I was upset about that to, nut the fact is they didn't sell for the sake of selling and to me that means alot.

So if you think this news is bad and management is bad please go ahead and sell. All those talking negative on the forum are looking forward to buying your shares. I am looking forward to buying your shares. I sold a good chunk of BHP shares yesterday at 41.42 (purchased at $15 - when doom and gloom just like this was prevalent and nobody would ever want to buy iron ore again. ps. don't worry I have many many more available to collect my dividends) to make room for a $1 GXY share price.

Investing is not a casino. Holding shares is about working out who you are a trader or and investor. If you are investor you think long term, you need to understand what the market is doing and where it is going. Look at the narrative. Think carefully about your decisions.

Looking forward to tomorrow.

To those long term, I am sure they are looking forward to tomorrow if it brings a $1 share price.

Just remember many other companies will go bust before GXY does. When that happens the spod market will be even smaller and GXY spod will be mighty precious!

Have a great Thursday all.