A40 Administrator update, page-80

Hi Gekkko, interesting you think GXY is the only party that could run Bald Hill operations and keep people employed. Firstly it seems at odds with thoughts of most on here that GXY would likely put it on C&M for a few years as its not currently profitable? So no job saved out of that scenario.

Secondly it seems a bit arrogant to think someone else couldn't run it, whilst costs were high the operation did seem to be producing well with plant running above nameplate. Problem was they couldn't sell it at required price. Not too dissimilar to GXY difficulties with Caitlan.

Bit dramatic suggesting Australia is under attack is it not, a loan of about $40m from bankers in Cayman Islands hardly constitutes an attack, and in affect is no different from a loan from Tribecca. It's just a source of funds.

For people to suggest further down the track they intend to strip assets is just scaremongering with no basis, at this stage we don't even know if they would be taking an equity position at all, never mind a controlling one that would likely need takeover provisions approval.

To me the deal may also be in GXY best interest as may restore some equity value without GXY needing to invest further cash, but that likely depends on what the rest of the proposal is.

I also doubt if this deal has been cooked up to make the GXY share price fall further, that sounds like you are looking for someone to blame rather than any rational arguement.

$40m loan and Australia's under attack, laughable but gets the likes.