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Bali , I know not of these people you are conversing with and their associations or percieved connections with Gulf but at the present moment there has been an indiction that a large project might be integrated into the Company HR . Yes we are all upset that the shares have been allowed to fall to such a dire level from an issue price of 25c and as outlined in the previous posts there is a fair mount of circumstantial evidence that points towards a negligent and comprimised style of management but at this point in time it is critical to have a forward focus so that both small and intitutionl shareholders are provided with an opportunity to mke good upon their initial investments.
It was outlined within the 2007 prospectus tht Gulfs primary objective was to work towards achieving and delivering upon a mineral resource whether that be copper or gold or a consolidated resource as quickly as techniclly possible . Shareholders understnd and appreciate the finncil requirements and technicl geological chllenges associated with such an operation but after 3 years worth of full time geoloical examinations and drilling programmes we have not even achieved a small scale deposit tht could inject some ustainable casflow into the company which would convey to shareholders that the previous board was not able to deliver and achieve upon the original objectives in which the Compny was established so now shareholders are left to with two circumtnces to work with : The possibility of insolvency which has been raised through the ASX announcemnt seeking answers in relion to operationl casflow and how Gulf plans to fund future explorations : Or the second option regarding the appointment of Peter and wht strategies nd finanial structures he will bring aboard to stabilise the sinking shit , sorry ship .

I dont know much about Peter appart from hat I hve read on the internet but it has been indicated that some sort of project might be coming into Gulf , One cnnot be sure about the associated terms of the arrngement and also one cnnot be sure about the scale of the project and the associated mineralogical grades that might show up but really what other explortion options are open to Gulf at the present time nd how are they planning to finance additional ekplortion programmes with only a fraction of their allocated capital left from the 10M raising . Would a 2c raising be the solution as proposed and what financial risks are associated with such a plan if in turn the drilling results turned out to be of an average grade and provided no additional imformation or direction on the deposit . Based upon historical results such an outcome is quite plausible and in this scenario it good very well require a further additional capital raising to further examine and delinetate a potential resource which would could in turn exhaust all of The Companies reserves and render the Company insovent , this is a very real possibility . So if a project was to rolled into Gulf it would be very interesting to see if this could provide some financial stability within the structure and if it is a serious project with pre confirmed strong historical data or grades then Gulf would have to look at whether additional funds are required to bring this project up to JORC standard and what level of expendiature and gological examination is required to work towards even a mall scale definable resource .