worth 650

Wow…

Can someone please explain the latest announcement to me as I must be way off, I hope so anyway.

GPN issued millions of dollars worth of shares to an unlisted company (Prescingot Pty Ltd) for tenements in West Arnhem Land? We all thought this was a great deal because it was next to Cameco. You with me still?

Now we find out that today's announcement states that a tenement RIGHT NEXT to (ELA 25638 - Gumadeer & ELA 25645 - Table Hill) GPN West Arnhem Land cost a total of $650???

Call me crazy but doesn’t that suggest the likely scenario occurred.

Mr X – purchases some tenements off Northern Territory Mines Department for a minimal registration fee of say $2,000.

Mr X – sells these tenements to GPN through a script for script worth millions of dollars.

If I am right in this review (which I may not be) this stock has some very serious concerns. Not only did they dilute a 30 million tonne reserve of Vanadium with nothing (Aus Uranium) but they seemed to have diluted the stock big time with nothing in West Arnhem Land. I would not be surprised if the regulator had a look at this company for conflicts of interest and related party transactions. These deals just seem to be crazy.

I note the share price is up this morning so maybe I am wrong.

I would love to hear ‘this is it’ comment on this.

PS If I am wrong please let me know as this is more of a fact finding exercise and not down ramping.

I am the Iceman!