why no sp movement, page-54

Good point. How much are their options to convert?

My take is that GDN is looking for money from its previous fund provider. Richard wants to place at a higher price than last time BUT the fund provider wants them at around 11 cents AGAIN.

I recon the fund provider is making a very big point to Richard as to what price he wants to pay and is showing him how he can affect the SP to get what he wants.

I recon when the placement is made at around 11 cents current selling will cease and the shares will run like a wounded bull. Just speculating but I recon I'm close to the mark.

If this is the case, I recon it is, shares and options are very cheap.

On your point, if the well is progressing as we hope and with the confidence the Board states I think Richard and his directors would prefer to hold there shares and go to the bank for their conversion money. Richard would have to report selling and that would be a real negative for the stock.