Gippsland Share Discussion Threads

[vanbrussel] 07/12/2010 07:36

GIP closed at 0.040!
Got an order filled at 0.041
I assume this is the time for buying, a 200% in 12 months time?

[vanbrussel] 27/11/2010 22:06

I would also recognise and sincerely thank our Egyptian partners, in particular, His Excellency Eng Sameh Fahmy, Minister of the Egyptian Ministry of Petroleum and Mineral Resources and Eng Mostafa EI Baahar, the Chairman of the Egyptian Mineral Resources Authority.

Well, I suppose this is why it took so long with JT. In 'Arab' countries you create trust and are subsequent granted deals with physical persons not companies.
Seems like Gandel finally got consent...

[joan of arc] 26/11/2010 12:14

Thanks MS. That AGM address seemed pretty upbeat for a change so I am surprised that the share price continues its downward spiral.

It still isn't obvious why JT was booted, I guess not seen as a shaker mover.

[marksnsparkle] 26/11/2010 10:44

Joan of Arc ... JT's directorship was up for re-election at the AGM and I am pretty confident JT realised that he would not win the vote so he resigned before the AGM to save his embarrassment from a vote of no confidence

Other stuff from the agm ..

[joan of arc] 26/11/2010 10:29

I wonder what triggered that. Any guesses anyone? Old age or a fall out with Gandel? And is it good or for the bad?

[marksnsparkle] 26/11/2010 09:20

John Telford has finally resigned ...

[vanbrussel] 27/10/2010 12:14

Article by the renowned Pole Institute based in Goma Eastern-DRC

October 25, 2010
The impact of the suspension of artisanal mining in eastern DRC

His name is Sengi, and he manages the office of an air transport company, Goma Express, which does the local flights between the town of Goma and the isolated rural areas of the territory of Walikale and the province of Maniema. His schedule of local flights to Walikale is empty. His company previously managed to do eight flights per day.

After the presidential decision of 9 September 2010 to suspend mining activities in the Kivus (Eastern DRC) the company was reduced to making 4 flights per day for the first few days following the announcement, but today there are none at all. His cargo mostly consisted of basic commodities and foodstuffs like sugar and salt, and also cash crops like beans, maize, potatoes and cassava. These foodstuffs were mostly for the sustenance of the artisanal miners in the mining camps of Bisie and Omate in the territory of Walikale, as well as in the business centres of Kilambo, Mubi and Ndjingala...

... Instead of obeying the orders of President Kabila, the same soldiers deployed in Walikale became miners themselves and compelled some civilians to wear the military uniform in order to assist them in the mining of cassiterite. During the night of 28 to 29 September 2010, barely 20 days after the promulgation of the presidential decision to suspend mining activities, about 30 or so soldiers (The number officially given was 15 dead, but independent sources speak of 30 people buried alive, soldiers and civilians together) together with some civilians were killed (buried alive) when a tunnel collapsed in one of the shafts in the mining camp of Bisie.

!!! This relates, in particular, to the system of certification of minerals by the German Bureau of Geo-sciences and natural resources (BGR) and to the tagging certifying the origin of these minerals set in place by ITRI (International Tin Research Institute) through its ITSCI (International Tin Supply Chain Initiative).
The Germans seem less concerned by the ban, in the hope that it would not last long, but mineral tagging for export is no longer carried out.

Article is worth reading in full:

[bluebell8] 26/10/2010 20:08

I know how a Hobbit feels ,very small with only a hole in the ground to fall in

[vanbrussel] 25/10/2010 03:27

Apart from the upcoming AGM, an interesting link by robjm66 on hotcopper

Noventa 43-101 on Marropino (September 27, 2010)- page 1-11
The cash flow model uses a sliding scale of prices based on agreed contract terms plus open market sales. Product prices escalate over time, increasing from a weighted average of US$55.11/lb contained Ta2O5 in Year 1 to US$63.92/lb in Year 9. The weighted average product price over the life of the project is estimated to be US$60.58/lb contained Ta2O5. A discount rate of 10% was used in order to estimate the NPV and IRR for the project.

[marksnsparkle] 18/10/2010 09:40

Cheers for that vanbrussel ... the volume has definitely picked up lately

[vanbrussel] 15/10/2010 23:10

Could be very positive indeed!

[vanbrussel] 15/10/2010 12:00

Yep, that's life
Jack is coming to terms with his weak points
An explorer is not necessarily a businessman

[joan of arc] 15/10/2010 11:42

So all those millions of years and lorry loads of money trying to get KFW to do due diligence and put the final touches together regarding the financing was just a total waste of time. Unbelievable that this shower have taken about 5 years to arrange financing and are absolutely no further forward.

[vanbrussel] 15/10/2010 11:10

Noah's Rule


So new timeline
Flood in 7 days
Rain continues 40 days
Water rise for 150 days...
Technical stockmarket stuff, not?

[vanbrussel] 15/10/2010 10:58

Still a very long way if you ask me:
The $62.808 in the above NR are Noah's Rule comission or what?
Constructive move, HC Starck behaved too risk averse

[marksnsparkle] 08/10/2010 10:24

GIP was back up 34% in AUS to around 3p, volume was a massive 14 million shares traded

The move sparked a price and volume query by the ASX ...


Company is putting out a prospectus on Monday, which I assume is for the new company

[marksnsparkle] 05/10/2010 21:39

JOA ...

Firstly GIP has raised $3.2 million in a recent placing, but did not offer all GIP share holders the opportunity to take part in the placing ... the good news is GIP now has $3.2 million in the bank, the bad news is we have been diluted a little bit more


Secondly GIP is going to move some of its assets to a new company and in return GIP will receive shares in that new company ... the new company will then have a placing to raise cash to develop those assets and all GIP shares holders will be given the opportunity to take part in that placing

Finally once listed the new company will have a value, i.e. market cap (total number of shares X share price), so say for example the new company had a market cap of $20 million and GIP owns 50% of the shares in the new company in theory this should add $10 Million (50% of $20 Million) of value to GIP ... so spinning off the assets into a new company is a way of placing a value on those assets and therefore a way of adding value to GIP


So in summary the recent placing was for GIP, there will be a placing for the new company that you can take part in if you want and the value placed on the new company will add some value to GIP

[vanbrussel] 05/10/2010 21:25

The September 28 NewsRelease is quite clear I would say:

An IPO where existing shareholders will be offered the opportunity to subscribe in this Newco on a pro-rata basis.

Usually the trick is a follows, e.g. subscription at 1p, opening price Newco at 2.5p (placement + value of the assets), so you sell as soon as possible to get some return. Once the price dropped substantial you buy back your original position (value of the assets is what you re-buy now)

[joan of arc] 05/10/2010 18:24

VanB - maybe you can help explain to me what is going on with this spin off. I thought we were all going to given the option re the placement. Now your article says we are going to be "offered" shares in a new co. Is this another placement? Which company got the money raised from the last one? And why does moving assets around make us any better off?

I don't know if anyone else is as confused as me. The long and short of it for me, whatever it means, is that we small PIs have probably been shafted yet again.

[vanbrussel] 04/10/2010 21:03

As for the Tin, that's ok.
But Tasmania! Bureaucratic disaster...
A couple of years ago (2007) the nitwits of Van Dieman Mines were forced to hire a biologist whose task was to report on Tasmanian tigers in the area...
No kidding
However, $1.75M recently has been offered for the safe capture of a live thylacine
That's 1/2 of GIP's recent placement... LOL

[vanbrussel] 04/10/2010 20:39

Posted by longrunsthefox on HC

[varies] 01/10/2010 10:52

It is disappointing to see this issue of 80m shares @ 4c in which private shareholders cannot take part. Having said that, I am not entirely sure that I would have been brave enough to put much more in.
Share issues at a big discount seem to be common on AIM and similar considerations must apply in Australia. Having decided to transfer the non-Abu Dabbab assets to us via a new company rather than sell them, I suppose it was almost certain (with hindsight) that GIP would take advantage of the recent spike in its share price to raise some more capital.
Those whe were very wide awake might have sold shares at about 7c but I suspect that the market is very thin and not many shares changed hands.
We are at least seeing a little excitement now for which I am grateful.

[vanbrussel] 01/10/2010 08:27

Found an old spreadsheet and filled it with the recent dilution/shareprice

US$630M; DCF8%; 10Y = $630/1.08^10=292 at 50% = $146M to Gippsland
CAPEX US$150M at 80/20 = $30M Gippsland new shares at 4p = 750M
Shareprice around 10.6¢ or 6.5p ($146M/1374M shares = 10.625)
No feldspar calculated

Following this share is a waste of time indeed!