I emailed Andrew Mortimer on Thursday morning i recieved a...

I emailed Andrew Mortimer on Thursday morning i recieved a response at 3am today (Late Night) this was his reply unforunately i deleted my email which i sent so i cant post however i did reply again and will post if i get a further reply since my lattest email we have obviously recieved an announcment.

Reply From Andrew

Dear Michael,



Thank you for your email. I hope you are well.



I am currently presenting GNI at an investor conference which is an important part of my job as well as running the project operational side of the company.



The 52 week low share price in GNI is attributable to the goings-on in Libya and Japan and I am not sure at what point this will abate.



Carl Swensson, whom I have copied into this email, is our technical director and has made it clear to me and the rest of the GNI board, that he does not want to make any announcements prematurely. As such, while a lot of work is going on in the background, we have nothing to report at this stage. Answering shareholder queries like yours is also an important part of my job and I do need to keep doing it. Being a corporate lawyer by training and having worked at the NSW DPP and in conjunction with ASIC, I am aware of the importance that the market is fully informed of material offence or circumstances. However, shareholders do have queries and so I do respond to them.



As announced previously, GNI is going through an extensive phase of historical data collation and reinterpretation. This includes previous work done by GNI. Mr. Swensson believes that it is best to continue GNI?s work off the back of the completion of this historical data collation to maximize exploration dollars spent. This may lead to a period of time where GNI?s public announcements are more sparse, however, I will forward your desire for an update to him and bring it up with him directly.



I should point out that Ben Cooper is no longer on the board of GNI and merely retains his shareholding. He and I and the other directors do have multiple directorships, however, I have only found this to be a good thing for the companies as it increases buying power with trade suppliers and access to personnel and assets. I can assure that GNI receives all of the attention that it needs and GNI does not want for time from any of its directors. Like you, I am impatient to see the share price much higher as GNI has the preeminent ground position in the area with impressive gold, copper and nickel anomalies including Tasminex?s ground at Mt. Venn which sent Tasminex soaring to a market cap of approximately $200 million approximately 40 years ago. As such, my view is that share price weakness is a buying opportunity rather than anything else.



Finally, the large international financing mentioned last year is obviously a large transaction which takes time to progress. I can assure you that I am spending the requisite time to complete all of the company?s major operational and financial issues and I look forward to updating you further.



Please further any queries or comments that you have so that this can inform the company?s decision making process.



Very best regards,


Andrew

I responded with the following and we have since recieved an annoucment and i have not had a reply.

Dear Andrew,

Thankyou for the quick reply it is most appreciated.

However i still feel the question of drilling has not been addressed and would like to no if drilling phase 2 is still on schedule for April? Drilling was originally announced for the first quarter of 2011 and pushed back to April. It would seem if data is still being collected and reinterpreted that drilling would be some time away. There has also been no word on any drilling contracts?

My concern is that any further delay in drilling could be quite damaging to GNI share price and the reputation of GNI management, i also don't think the Japan crisis or Libya are too blame, the current SP is a result of a lack of information being passed on to shareholders via the ASX as the share price was falling well before these events.

Thankyou for your time

Regards

M Jack


It would seem that the recent news has been recieved positively todayand i think we may continue to see more regular annoucments followed by an increas in the SP

Cheers