Burner123 Gip has been sending out intermittent smoke signals...

Burner123 Gip has been sending out intermittent smoke signals (which i have highlighted) that they would sell the Stellar Shares and or Heemskirk interest not that it makes any sense on the surface they way it has been done. Or that it was done at all really.

“Ian Gandel, Chairman of Gippsland said “The Heemskirk Tin Project has been disadvantaged for
too long by the joint venture agreement signed in 1972. By committing to this deal, the parties
will ensure that the project is given the best possible chance of becoming a mine and this can only
benefit shareholders of both companies. Gippsland shareholders will benefit not only from their
continued exposure to the Heemskirk asset and a royalty from that project, but also from
exposure to Stellar’s other exploration projects.”

Especially when Gandel knows the potential of Heemskik and previously tried spin off Heemskirk into a company where he would be a director and likely majority shareholder.

http://www.asx.com.au/asxpdf/20110421/pdf/41y62wm01t5w5r.pdf

A newly incorporated company, Adobha Resources Limited ("Adobha") of which Messrs Ian Gandel
, John Dunlop and John Chisholm are directors, will purchase Gippsland's 40% interest in the
Heemskirk Joint Venture....

http://www.asx.com.au/asxpdf/20110616/pdf/41z7vr63qd0d1h.pdf

http://www.asx.com.au/asxpdf/20110616/pdf/41z7vr63qd0d1h.pdf

As for no one being interested in Stellar shares how about Stellar being in interested in Stellar shares going cheap when they may have to do a deal excanging thirty percent of Heemskirk or Stellar to get Heemskirk of the ground.

http://www.proactiveinvestors.com.au/companies/news/42362/stellar-resources-phillipcapital-bullish-on-heemskirk-tin-42362.html

We calculate that the Heemskirk project has a value of over $160m. We assume that SRZ sells a 30% stake which finances their equity needs. This gives a valuation of 52c/share for SRZ, which we risk adjust to 37c.

So Stellar not going to be interested in the 18 percent to help out with their equity needs especially when a stake is being sold at a tenth of its likely future price!

Stellar could probably have covered the whole cost of buying the shares by selling some of them a bit down the road and their buying of the shares would have shown the confidence in Heemskirk so making it it easier to get off the ground and put them in a better bargaining position in the future with possible partners.

Maybe someone should start a thread for lets raise the money to buy the shares from Susanne Bunnenberg Lol. Joking apart i would expect Susanne Bunnenberg to hang on to them for a little bit and that she indentified a future buyer of the shares before she bought them.

Not surprised that the Stellar price rose after all Gip are not depressing it buy drip feeding shares into the market and will not be able to do so anymore.

If you buy the story that she has only bought the shares to hang onto them for the “long term” you are not going to expect her to drip feed the shares into the market.

Even If you think she will hold onto them all to sell to one already identified buyer you are not going to expect her to drip feed the shared into the market either.

Plus of course why would anyone sell Stellar shares in advance of an imminent and likely to be very positive pre feasibility study?

Whoops guess that is where i came in.