Snowy 2.0, page-18

OPINION ON SHARE PRICE As a shareholder I have given much thought about taking a profit but have decided to hold long term. At 37-38 GNX is currently overvalued as it is allowing for some increase for stage 2 without which it would trade at 10-15c; ie stagnate in stage 1. Stage 2 depends on finance which will probably come soon as a combination of debt and equity. When? Who knows? Expect to be diluted and/or be offered shares and options. If stage 2 is fully funded with about $300mill, share price may drift up to the $1.00 region. Once finance for stage 2 is locked in GNX will be in excellent position to repeat the project elsewhere and could include wind power in the mix. In my opinion it's worth the risk and very valuable long term.