Commsec Daily Market Report, page-3

Recent GNX sp at 30-40 was based on successful stage 2 hydro development sometime in future. Bit of blue sky but with good reason. The future for GNX is dependent on securing funding for stage 2. Shareholders are feeling uneasy that there maybe problems with funding. No announcement makes people skittish. Without stage 2 funding GNX is dead in the water and sp will fall significantly as the market loses confidence in the project. But with sufficient finance this pull back will be seen as a hiccup. So when can confidence return?