Ann: OMX: Phase 2 Drilling Commenced at NSW Calarie Gold Project, page-8

Hi GC
T20, Mate I went to the Gold Coast presentation by Jeneta and spent some time chatting with her.
To be very honest I found Jeneta to be strong, knowledgeable and motivated, there is a plan and that is being executed to the letter.
From what I can gather Jeneta has surrounded herself with some highly credentialed hard working, down and dirty field geologist professionals (In a good way) and I am sure that we should see the results of this coming through in the near term.
The turnaround in my book will come with a JORC 2012 on Narraburra.

I am confident that we are in good hands, I am also confident in the integrity of management in place, I am now certain that the decisions being taken are in shareholders best interests with integrity, to the best of my ability, research and observations.

I do believe that Jeneta will buy shares in Godolphin, we will just have to show a little patience.
I have been told by Jeremy that he believes an arms length (Non Shareholder) position as Non Executive Chairman enables him to do his job effectively with clarity and without influence. I do not agree, but can understand the professional stance and integrity taken to this long held belief.
Management in Godolphin have a polar opposite attitude to the N/QLD Nickel company where there is board enrichment beyond belief with little regard for shareholders. In my opinion.

I do believe that Ian will take opportunity and invest further into Godolphin through this capital raise, he always has. Just guessing and observation.
Ian has always put his money where his mouth is, I have GREAT respect for that leadership by example.
We have seen that O'Shannassy took up a very substantial position in addition to his previous holdings showing high confidence, long term.
I am taking my allocation in the SPP.

I question what David Greenwood and OMX (A Junior) would want investing in GRL, I have no answer but I do know that DG was a director here in GRL, what does he know from internal history and what does he know from the in crowd externally.
OMX put their money where their mouth is, Should we be suspicious, or should we take this as validation and something bigger taking place.
Anyone's guess at this stage.
I look at this very simplistically.
O' Shannassy invested an additional $500k into Godolphin, those are SAFE shares.
OMX and DG invested $600k, that may have other intent.
Simplistically O'Shannassy's investment almost offsets that OMX investment and we got $600k additional funds in the process. I think the risks of accepting the OMX investment are acceptable and in our financial interests. IMO

I was told at the Gold Coast seminar that the other projects were progressing.
Lewis Ponds has a dedicated Geologist moving it forward. Funding the project requires prudence but the work continues.
Copperhill East is also being worked on, but there are financial limitations to the extreme cost of core drilling that project, It has not been forgotten.
The main focus for management work and money is Narraburra, that is where the cheapest and greatest bang for buck lies at the moment, in my opinion. I agree with the focus of management into this project and am happy with the overall direction of Godolphin.
RARE EARTHS are a BIG deal.

I hope this helps clarify my thoughts on Godolphin.
RED