No, what it means is that GIR created 17.5M new shares on Friday and sold them at the same time to AMCI (Sa Mingma BV) as announced the other day that they would do. Note the sale price of $1.30. Clearly AMCI thinks it will do well buying GIR at $1.30 despite the dilution of share price that this additional creation of shares (10% of the company) would create in the short term - hence our price of about $1.15 at the moment. Look forward to big things -they are not far away - have a look at the recent announcements from PMH if you want certainty on how GIR will be a big wheel in the mining future. Check GIR's holdings and developments then check PMH in Ann Mason in USA (which I now think they will sell to provide capital to develop the really big interest - Blue Rose in S.A.)- why else would they tell us all about the other players in Ann Mason - this is only relevant if they are going to sell. Note how they never talk much about Blue Rose - yet, when you look at the JV it is interesting to see that GIR actually kept 25% of it (whereas it only owns 10% of PMH). Why would they keep 25%, not just the ordinary 10% they have in PMH. I think I can guess. GIR is value, so is PMH.
GIR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
