Yes, that is true, Treefers. However, it 'only' applies to the contracted off-take, which is quite large, agreed, but additional production can be at much higher prices. Whatever, it is a mess, we can all agree about that. Using 20/20 hindsight, if Gippsland signed up to HCS's honey-pot trap using back-of-an-envelope calculations, or a Coles calculator, without enlisting expert independent advice, then shareholders might have cause to revolt. Well, they did, didn't they? We've now got a new majority shareholder, a 'new' chairman, a 'new' Board, and 'renewed' hope! What might come of it I wouldn't know, but the first thing must be the Eritrea results, I'm a bit peeved that we couldn't have had some early results, which must have been available, before the cut-off date for the rights issue. Well, I shouldn't say 'must have been available', but I will say 'weren't available', probably by design, too risky come to think of it. If the results were good then the .6c issue would be stampeded, but if they were bad then Mr. G. would be the only subscriber and no underwriter in sight. No, definitely too risky, so that was never going to happen, silly me for even floating the idea. So here we are. We'll have to wait until next week to find out how well the issue was supported, I did exactly what I could afford to do, 'afford' is probably the wrong word, but I did what I had to do to the extent that I was able. I wanted to do more but couldn't. Interesting times just up ahead for GIP. Good luck to all!
AR1 Price at posting:
0.5¢ Sentiment: LT Buy Disclosure: Held
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