todays action, page-19

"If no further shares were issued since 20/05/08 (in other words if they had enough cash to start with), the shares that closed at $1.71 on Thurs 22/10/09 would now be worth $6.57 per share on issued capital of 44.863 M shares !!!!"

in order ot "have enough cash to start with" they would have had to issue considerably more shares in the past, at a lot lower share price

you're arguing a chicken / egg scenario

the only things that have changed since the sp was last at $2 are:

- GXY has issued some more shares
- cash balance has gone up
- DFS released on downstream processing

sure, the increase in cash by itself will not cover the market cap increase, the fact that GXY now has the funds to undertake the development should cover the rest

its less of a blue sky dream and becomming more of a reality - achieving development targets and timeframes and profitable production will now be the keys over the next 12-18 months