"Sorry if I'm a bit slow...who exactly has GIP sold their...

"Sorry if I'm a bit slow...who exactly has GIP sold their shareholding too?" that's the big question.

They are not saying who they sold it to only that the price has been "agreed" so there must be someone to sell it to.
Previous to this the general market did not even know the remaining Stellar shares were up for sale!

For Gip shareholders It must be a bit like coming home from work finding out your wife has left you, changed the locks and emptied the joint bank account!

The thirty percent stake is what Stellar will likely have to sell to get the money for Heemskirk referred to here.

http://www.proactiveinvestors.com.au/companies/news/42362/stellar-resources-phillipcapital-bullish-on-heemskirk-tin-42362.html

So you have 30 percent plus 18 percent and the strange trading pattern around January suggesting stake building just under the 5 percent mark.

"So was it done as an off market placement to someone else, and if so who?

Am I missing something obvious?"

Doubt you are missing anything obvious Cdchi1. The obvious path would to have held onto the shares, the slightly less obvious path would to have sold the shares but getting a good price for them.

The only way things could be more bizarre is if the shares had been sold on Ebay, but maybe i am being unfair maybe the shares were sold on Ebay. Joking of course as they would have probably got a better price there.

Maybe Sears could ask the SRZ board if they know what is going on, as they might have a passing interest in large slices of the company floating around?

Maybe SRZ could put in bid for the shares if the cheque bounces?