sellers drying up, page-2

It's been a while since the sellers backed off in such a hurry (by GIP standards). If someone doesn't do something soon, the price is in danger of going to near last year's options conversion price of 9 cents in a bit of a hurry. What's come over everyone?! Surely a rocketing gold price can't have anything to do with it? ;-) http://bit.ly/1sawH1

P.S. Vietnam was the world's biggest private citizen importer of gold in the first quarter of last year. In the second quarter, gold imports were banned. With the gray market gold price there now significantly above the free market elsewhere, the Government is apparently moving to re-allow imports. What's that got to do with anything? Well, at the top for the A$ last year, the A$ was worth more than the U.S. $ on the gray market. That may or may not be related in the end of course.

P.P.S. As with CTO and BDG in Australia, GIP is probably always going to struggle with proving up it's gold holdings to the market's JORC satisfaction. The tin outside the main tantalum-feldspar mine is alluvial and so is the gold, which underground is mainly veins and not a pea soup which Australian punters are more familiar with. Hence the trenching and suck it and see as you mine it approach is better than it looks.

P.P.P.S. Taking into account how the share price has moved over the years, the record volume a few weeks ago and the announcement today, we are between points 5 and 6 on the chart http://bit.ly/4n4e18 , which shows a classic mining company share price cycle. Note that the chart is logarithmic, so especially if shortages are anticipated, gains can be remarkable, even surpassing the first wave in percentage gain terms, as was the case with PDN and FMG, for example.

P.P.P.P.S GIP has gold, tin, feldspar, copper, tantalum, nickel and ... time will tell what else down the track. The company is active in three countries so far.