In a moment of weakness, I suggested we " re-establish some dialogue with management" of GPGI. Since this comment keeps popping up in Thor's posts, I felt beholden to at least place a call. For those who are interested (and not too jaded by past promises), here's what I recall from my conversation with Mr. Jensen:
- final papers for the water permit have been filed. The water is drinkable. The process has cost the company in the range of $55,000 and was precipitated by a complaint, probably from one of our SI friends.
- they are producing on a small scale using in-house plant (the Colorado? Plant is out), but they expect to ramp up soon (to 1,000 gallons of precipitate a day??). They are producing gold, platinum, palladium and rhodium. They recently lost a pump, which is being replaced from New York middle of next week .
- no rush on NASDAQ, something about shorters. Blamed Canadians (I'm Canadian, and I somehow doubt that we're responsible, but who knows!).
- there may be a new source of financing to allow continuation without issuing more shares. Currently 33,000,000+ shares outstanding, was somewhat unsure of recent issues so this could be higher. No plans to consolidate, and he agreed that if the operation is a huge success, too few shares could be a problem.
- I asked about news, and it sounds like several weeks out.
All the usual attacks (pump and dump, heard it all before, personal innuendoes etc. ) are welcomed and will be happily ignored.
Regards
Hugh.
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