Gippsland Share Discussion Threads

[chipperfrd] 06/7/2011 02:32

SRZ have released results of the scoping study on the Heemskirk Tin project (GIP have 40% which will reduce to 30% if SRZ carry through to a pre-feasibility).


Chip

[yangou] 24/6/2011 18:15

Hi Chip. I sold mine when you could only deal through a broker who could buy and sell on the TSX. So luckily got out then. Guess you made the mistake that I have done before and many other investors. Which is to have so much faith in a share that it will come through in the end. It could well do that but your money will be tied up for so much longer. I dont often trade and do hold shares also for the long term while they get things sorted out which investing is all about. But this one i decided not too. I have shares in Bouganville copper which are showing a profit and if and when the mine reopens again will be worth a good deal more than my purchase price. So all i am saying is which ones are worth the long hold. If your interested Bougy is worth a look as everything there is moving forward

[shadowchaser] 22/6/2011 13:41

GIP- 'Rock kicking' exercise in Jordan abandoned .


For once,perhaps the GIP board can now concentrate on actually mining SOMETHING!

-SC

[shadowchaser] 21/6/2011 12:41

GIP- WHERE are the results of the trial mining????????



Due 'Early JUNE'??????????


-SC

[chipperfrd] 17/6/2011 13:34

JoA,

Have to admit I feel a bit 'stuck' given the stock price and 'quality' of BoD. So I have effectively written-off my entire exposure to GIP.

My problem will come when they inevitably seek further funding as I still consider the underlying assets to be worth holding a reasonable share in - but I have absolutely no confidence in the people at the top of the company.

I guess I will just have to review my position based on the merits of whatever proposal is put forward - but I am far from happy to have tied up cash in GIP for so long. Thankfully most of my other stocks have more than made up for GIP but it certainly ranks as one of my poorer decisions and I will be very hesitant to throw good money after bad.

Best wishes.
Chip

[joan of arc] 17/6/2011 12:19

This is unfortunately true. I can't remember how the percentage of their holdings go (at my last reckoning Gandel had about 25%) but if they have to do a placing or rights issue that can only help to reduce their control.

[chipperfrd] 17/6/2011 11:16

JoA,

Let us hope so! Trouble is, we have now seen what this management is all about and it does not engender confidence (at least to me) in their ability to steer a future course which is in the best interests of all shareholders.
Chip

[joan of arc] 17/6/2011 11:12

There seems to be no pleasing some holders. Finally now that a totally corrupt deal is off that trashed the share price by more than a third they continue to sell off as if the change of heart was for the worse. Gandel and co were clearly having their arms twisted severely with numerous threats,eg civil suit/criminal charges etc.

Possibly the Eritrean funding, for which Gandel has been economical in stating the amount, is the cause for the continuing weakness. He clearly knows what it is and this asset still seemed worth pillaging. That more funding is required across the board is obvious, that the contract with Starck was a balls up is now very evident.

As he says they must now get on and start running the company with a view to exploiting the sites they have. I hope we are now seeing the low point and little by little the share price improves from here on.

[chipperfrd] 16/6/2011 03:20

The GIP BoD have backed down!

[shadowchaser] 14/6/2011 11:31

GIP-Results of trial mining, started in March 2011 ,

due early June ....

In my book ---THAT'S NOW!

-SC

[shadowchaser] 12/6/2011 16:38

GIP-Yes ..
I also note ,recently ,that there was a similar revaluation/ update issued for NVTA.

Quickly followed by the collapse of the share price ,
and a funding crisis!

-SC

[chipperfrd] 09/6/2011 01:37

Update on Abu Dabbab. Increased ore reserves.

[marksnsparkle] 01/6/2011 13:12

Joan of Arc ... at the end of the day its what's happening and I think it will allow me to sell my shares at break even or a small loss so I'm happy ... I would rather move on from GIP rather than waste time campaigning for a better/fairer solution

I'm not meaning to be mean, I'm just being realistic

[joan of arc] 31/5/2011 20:36

1. The transfer of $2.2m to Eritrea was an acccounting exercise, nothing more as the money was already GIP's. So if it stops at tranche 1 they have let 40% of Eritrea go for $0.

2. You have no idea what percentage of Adobha will be released in the offer, the rest all ready belonging to Gandel and cronies. As I said in an earlier post we are being ripped off by not getting Adhoba on a pro rata basis plus having to stump up more money for what was already ours. How you can consider that making a killing is beyond me.

[marksnsparkle] 31/5/2011 10:39

exactly Joan of Arc :-)

The way I see it is cash has flowed out to Eritrea from GIP and GIP now say they don't have to pay it back

However if the new company is set up an initial $2.2m and then a further $2.2m if we are lucky will flow back into GIP

So net net GIP may only get $0m or $2.2m for Eritrea ... but it will result in $2.2m or $4.4m of cash flowing back into GIP therefore solving GIP near term cash flow ... basically Eritrea owe GIP $2.2m + $2.2m + the debt, therefore if GIP agree to write off the debt that leaves GIP with $4.4m due

The other point is that if the assets are being striped cheaply into the new company, then why not take up the opportunity to invest in the new company and make a killing?

[marksnsparkle] 31/5/2011 09:26

Joan of Arc ... am I or are you?

[joan of arc] 31/5/2011 09:13

Marksn, you are missing the point I think.. the $2.2m is what is left from the $3m placing which was stated as being solely and specifically for the Abu Dabbab project. This is being stripped out as an asset that MAY be given back at the discretion of the directors. It is obvious that anything of concrete value is being moved out just in case the whole Abu Dabbab venture does not get off the ground nothwithstanding all the nice but irrelevant updates that Gandel is putting out to stop the punters getting even more p----d off.

[marksnsparkle] 31/5/2011 08:21

Abu Dabbab - Site related works further update ...


Nuweibi Exploration Update ...

[marksnsparkle] 25/5/2011 14:19

shadowchaser ...spinning off Eritrea in June will stick AUS$2,200,000 in the bank ... so despite what people think its actually the lesser of the two evils vs further dilution from a fund raising within GIP

I think the plan is that is enough cash to take GIP up to the funding of Abu Dabbab

[shadowchaser] 25/5/2011 14:09

GIP- Operating money quickly running out ---

Nothing much left to keep this 'dream' going .

What do the directors do ?
Arrange to embark on another round of 'rock kicking'- this time in Jordan !


IMO , A conjuring trick ,rabbit out of the hat ,and the like ,is the only thing that can save the day now.....

-SC

[shadowchaser] 19/5/2011 16:19

GIP -As I opined earlier [2863] ,for some reason ,Stark seems to have GIP grasped firmly by the BALLS!

Lol!

-SC

[joan of arc] 18/5/2011 16:56

Nothing much happening as usual. We'll just have to wait until he dreams up a new scheme to strip this out as well!