Your price is right in the middle of my range. I'd be happy with really anything between 1 for 3 or 4 and vote yes on that basis.1 for 2.25 just doesn't stack up in my mind on any level.
If the Philipines is so prosperous why would GGX shareholders want dilution (which they clearly do)?
Why wouldn't GGX shareholders simply raise more in a capital raising and keep their prespective tenements for themselves? After all Morton and co. presumably have the cash and the largest holdings to support a rights issue.
Why have the GGX drill results to date been reasonably uninspiring?
Why wouldn't GGX wait until the next round of drilling in the Phillipines to prove up the prospects of their resource and have a much clearer picture of the value of their company?
The conclusion I come to after asking myself these questions is perhaps the GGX assets aren't as good as GGX would like us to think. What other conclusion is there?
JT
OIP Price at posting:
10.0¢ Sentiment: None Disclosure: Held
