going out on a limb

OK, I think GBE management do not like this deal either. Reason being is that we have seen no selling of this deal, no presentation, not a word from management, all very, very quiet.

I think what has happened is that GBE have struck this deal simply to buy some time. This is a fall back option, a worst case scenario.

The delay in getting the results from Machinga have not helped one bit. Once the HREE results from Machinga are known, we will see a CR at a much better price and this deal will end up where it belongs - in the rubbish bin.

Just look at SFR (Sandfire) - they had a deal with LS Nikko for LS to get shares at $5.02. But SFR's shares have run so hard that they are now doing a rights issues at $6.60 for existing share holders and an insto placement at $7 minimum.

Time to buy more (or hold) and of course, be patient.

Ralph