a monster in the making, page-23

Hi all,

Thanks to PG and others for great posts.

I'm in at these levels - ca. $5m cash at EOFY gives an EV around $4m!

I think I would take that for the BPC potential licensing revenue stream to other industry operators ex Brazil alone (purely speculative thought, but looks like a solid op ex advantage for GLA).

Current macro conditions and market sentiment give ridiculous valuations to any junior explorer whether its a group of suits in Perth with a lunch expense account and a bottom of the barrel tenement, or whether it's a hard working team with an exciting prospect that could deliver well for shareholders. Crazy IMO, but this type of baby out with the bathwater scenario creates great potential value, as GLA appears IMO.

I like the fact the team seems to spend relative low amounts on admin/o'heads; the money goes to the project. Love the Uruguay tax deferral policy too.

Looking forward to the FS in 1H13 and seeing what SP is at for funding around that time.

Good luck to all SH, and thanks again for the good postings on the GLA forum.