how much lower, page-8

Hi Spence,
I agree that only unexpected GXY good news will make the SP go up until there is solid sales revenue & profit on the board which would infer a higher future EPS.

The dilution and the prospect of the further sales of 88 mil more shares approved at the AGM will be of concern
to buyers until the SP settles.

If one takes the rough average of shares on issue over the past year as say 200 mil and a reasonable estimate of shares on issue over the next year as 400 mil & the past 12 months SP high as $1.82 then short of an improvement in forecast EPS, the rough fundamental maths would be:

$1.80 X 200 mil devided by 400 mil = $0.91.

Last year the market assumed that GXY was fully funded as per GXY's Las Vegas presentation and bought accordingly.

There is also the possibility that recent opening of the world's biggest Li Carbonate plant in Argentina together
with Talison's planned trippling of its hard rock production in West Australia may temporarily oversupply the market.

Is there any info yet on who the "sophisticated investors" are who recently bought-in?

Cheers
Moorookamick