Solarfeen,You would cry over their long term average price.Its...

Solarfeen,

You would cry over their long term average price.

Its like they all bought a dud racehorse together and just kept shovelling money into it year after year.

It will take a bloody good share price for the top shareholders who have been around for 3/4 of a decade to break even but they dont worry about that sort of thing. They are mostly loaded and this is more like a pet dog that they had a reason to get together and be mates and do things together etc etc. Sure the dream was for the old bugger Dave Porter to find another Sons of Gwalia (he and Rick Crabbs legendary brother Phil Crabb), but all they did was drill holes in moose pasture and didn't have much success (hence the race horse anology). Still had loads of fun etc.

However, they aint dumb. They got tired of moose pasture and started to look for advanced projects and were bitterlly disappointed when they could not fund the acquisition of that high grade 350K ounce resource in Fiji from those losers in South Africa who have since blown themselves up (good).

It was a chance meeting at some overseas conferance or whatever where they bumped into some dudes from Royal Group who were seriously thinking about expanding into the resource area in the North Africa region. This is where many of the multi billion dollar industrial and property projects are.

Royal Group chaps explained that they keep getting offerred resource project opportunities through their wide business interests but did not have the inhouse expertise to evaluate them or how to progress them. At that time they had this mali project on the table which was a clusterfuk of Hyundai which had infamously cocked up its own bi ill faited move into resources.

Anyway, the GMR fellers are highly likable fellers and straight as a die. The Royal Group were impressed with Rick Crabbs association with the Paladin owned Uraniam project. GMR basically lets do a JV and if you want you can alos come in as our major shareholders. We'll do all the leg work and techical due diligence, you guess stump up most of the cash and feeds the deals and contacts etc.

Royal bought into GMR via a placement for 8 cents and the rest is history.

The racehores has had a life changing operation and is now performing like a champ.