congratulations mr gandel & executive team

The ten (10) yes ten page update released today together with the recent quarterly report, without doubt, would have to be the most detailed & informative released by GIP since AD came on board.

Congratulations Mr. Gandel & Executive team for a most informative three weeks. A lot of questions answered, doubts confirmed, and confirmation we are finally going somewhere.

I particularly liked the part of :
14. Project Finance
The Company, together with Noah�s Rule, is presently seeking to secure a structured financing package for the implementation of the project. Whilst it is premature to speculate as to the elements of such a package, it is possible that the package will include some form of tin price hedging linked to a form of debt as well as equity.
If the Company successfully secures a structured financing package or a conventional project financing package predicated on tin price hedging, it may obviate the need for finance such as that contemplated previously with KfW, which is linked to the delivery tantalum bearing materials into Germany pursuant to the OTA. The Company does however intend to continue discussions with KfW in conjunction with H C Starck.

AND ON FELDSPAR ;

conducted initial marketing campaigns in 2010 which resulted in receipt of expressions of interest for 700,000 tonnes of material with indications for possible additional demand of 600,000 tonnes from the same end-users.
The Board also became aware that the Company had retained the services of a marketing agent in Europe to assist it in identifying other potential end-users for Abu Dabbab material after the departure of the former CEO.
Based on indicative FOB prices offered and present operating cost estimates, the cash operating margin for the production of a feldspar by-product could be between US$20 and US$25 per tonne of feldspar.
Whilst the Company is encouraged by the expressions of interests it has received, the Directors believe that market penetration of the Company�s feldspar product may take time. The Company believes that sales from this part of the business will start slowly and build progressively.


I have long maintained negotiations with HC Starck were not well & given current prices, why not sell tin & feldspar & stockpile the tantalum ?

A lot of sense with getting on with a lower cost cashflow generation and accumulating profits to reduce borrowing costs going forward.

Appears Mr.Gandel has his thinking cap on.

Has taken longer than many of us would have liked, but I for one will give credit where credit is due. Well done Executive team ! Look forward to more informative releases of exactly where we are up to in the future on AD.

Our share price should greatly improve based on today's announcement, sort the Heemskirk valuation out & I believe our share price will begin to reflect more accurately the true underlying wealth of the company.