I think GXY sp fall 15% today,maybe has the following reason.. 1.GXY sp gose up very quickly and it need some corection,even drop 15% most people still have profit. 2.if you are commsec user(the largest broker in Au),you will find that you can see there is an annoucement from GXY, but you can't open it.Commsec website failed to retrieve the annoucement, when the price drop quickly, and people don't know what is happening on GXY, they will select to sell it and get the profit for sure and this made it worse.maybe can call it butterfly effect.Some of my friends call me and asking what is the announcement about.In this case, you simply visit www.asx.com.au and you will find the announcement there.it is just annual general meeting. 3.GXY 's investor Chinese Creat Group is a private company,and this is a relative small investment,so the investment doesn't need FIRB to prove.Creat group provide the fund to GXY through its controlled Australia mine company, which is listed in London stock exchange.So nothing is related to FIRB.Creat group controlled three listed company in Hongkong stock exchange, shanghai stock exchange and London stock exchange.IMO, Iggy Tan is a very smart man in this way to select the investor and his presentation mentioned the fund's fX hedge also impressed me.I have confidence with him,compared with ORE, ORE is more bubblely.ORE is too far away from production,during this long period, more chance to have new breakthrough in making battery technology,ore will loose most the value.ore even has not done the BFS. I think GXY will go up soon and further after this correction. Cheers!
GXY Price at posting:
59.3¢ Sentiment: Buy Disclosure: Held
