AlbertE,The market has had very little influence in the share...

AlbertE,
The market has had very little influence in the share price correction.
It may appear so to many,but the main reason is simply a price adjustment to massive dilution to recent share issues at a discount.
GXY is basically an excellent Company with huge upside in the share price,but you have to wait till the final dilution effect hits and then you buy.
In about 2 months,the share price will have completed its adjustment and you can buy,buy,buy.
All the market corrections have done is accelerate the inevitable.
The fully diluted share price of GXY is 90.5c to 92.5c.
The market will affect this by + or - 20%.
Do not panic at all,but buy at the corrected price and wait for the huge capital gains that will follow in about 12 mnths time.
The Company expects to be profitable in aboout 12 mnths time to the tune of about A$50M(net of finance costs and tax).
So,with a P/E ratio of 10,the Market Cap should rise to $500M and with a P/E ratio of 20,to $1B.
The share price projections based on this should be within the range of $2.75 to $5.50 in 12 months time.
I am extremely bullish on this stock after the final 31 M shares have been added to issued capital(expected sometime in March 2010).
Do your own research and invest as you see fit.
I have discussed this issue since the announcement of Capital raising and its financial effects on shares since Sept 09----refer to my lead posts on that issue and subsequent posts on the 'Today's action' thread since Oct09.
Good Luck.
thelynxx