Ann: Suspension, page-5

Sunday morning, the sun's shining, it's one of those incomparable days of autumn that we get in Perth.
I've refrained from posting, even though this might be the most important problem that Gippsland has faced in recent times, because what can we add that's going to be helpful, probably silence for the time being.
Anyway, I pretty much agree with what TPG has written, and like others above I can't see anything positive in the current impasse. My first reaction was one of anger, followed shortly thereafter by laughter. Anger because that's the natural reaction to an attempt to revoke the leases, if that's what it is, just as we've signed up a potential development partner, laughter because, if you tried, I don't think you could write a more ludicrous story line. I was literally laughing out loud, it's known as LOL on HC.
All that to one side, I calculate that Mr. G via Gandel Metals has at risk in excess of $12,500,000 including unsecured loans, plus all the mental and emotional work that has gone into this project, same goes for us but on a lower level financially, of course, and I can't see him walking away - it's not a trait that he's known for. Additionally, Gippsland estimated in a recent document that it had spent around $25,000 000 on the project so far and the proposed development has a further $35,000,000 slated over a relatively short time frame, so any move to try to claim that Gippsland hasn't played its part, somehow, seems to rest on shallow foundations, IMO. The above investment, still to come, will create jobs all over the place and foreign exchange for Egypt. There has been a major push recently by Egypt for foreign investment, which is all well and good, but if they can't keep their hands off a small, by comparison, project like AD really who will want to put serious money in elsewhere?
Readers may remember that there were a couple of attempts to de-rail Centamin's gold project so maybe this sort of thing is par for the course there, but Centamin was still going last I looked and, yes, I'm expecting a positive outcome for us this time because anything else would be damaging to all parties including and not least the Egyptian attempt to show a sensible and friendly face to potential foreign investment. I am hopeful that someone higher up the chain of command, where there is consideration given to the bigger picture, will step in this week and straighten this one out, pronto.
B22.