email from andrew

The following is a response from Andrew followed by my email to him. Similar to what we have already seen but i am satisfied with his response and very confident this is a multi bagger!

Dear Michael,



I am fully disclosed on my purchase of GNI shares and I have not bought anymore as yet.



I did not just sell GNI options I sold Proto options, MHM shares, SBR shares, GLM shares and MUI shares. All these sales were made at the same time. I am a very large investor in other companies, which I try to help out, and Ive just had too much stock. As far as Im aware Im still the largest shareholder, contrib. holder and option holder in GNI.



There is never a good time to sell stock and this is the first time Ive sold any GNI securities in four years, so if you want to see the sale in the context of EM results pending the sale must be seen in context of the five other companies that I sold at the same time and the fact that this is the first time I have ever sold GNI securities aside from this I have only ever bought and bought and bought.



I have not got the VTEM results back yet but I assume that they will be good as EM results for Mt Venn have been in the public domain for five years showing targets. However, this means nothing without the surface geological mapping, which we will do early next year. GNI has the dominant ground position in the important areas of the Mt Venn and Jutson Rocks greenstone belts and Ausgold had their nickel-copper strike very close to our Jutson Rocks western boundary. As such, I am very confident with our Laverton project.



I appreciate your support as a shareholder. I continue to be a net buyer and I look forward to the second phase of drilling next year.



Please keep in touch and email me any other queries.



Best regards



Andrew Mortimer

Executive Director

Global Nickel Investments NL

Phone: +61 (0)2 9225 4000

Fax: +61 (0)2 9235 3889

Mobile: +61 (0)433 894 923



From: Michael Jack [mailto:[email protected]]
Sent: Wednesday, 8 December 2010 6:07 PM
To: Andrew Mortimer (Global Nickel)
Subject: Appendix 3y



Dear Andrew,

I am just curious of your timing to sell your options when the VTEM results should be released very soon. Surely you must understand selling at this point would not be looked upon very positively knowing the results are so close.

Furthermore if the results are negative i would imagined there will be a few very disgruntled share holders and some back lash as to the timing of both the results and your sale.

I am confident that the results will be positive and continue to hold with the recent announcements made by our neighbours.

Also i have read a response you had written to another share holder which in your reply it stated you were selling the options because as a director you believe it is better to purchase head shares.

Is this the case and have you purchased any more heads since selling the options which i am aware you sold off as you had more of these than heads?

Your Sincerely


M Jack