The following note is from C L:
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Mr Currie, When the book is written about the new developments and the science of the desert dirt companies - GPGI will certainly have a chapter denoting that they were the first to achieve production. However, watching the stock price movement since that announcement, it should now be apparent that the market is not interested in that. Since the hoaxes pulled by Bre-x, Cartaway and others, the market wants outside, third party verification of extraction methods and resource calculation. This sweet, syrupy letter from Ahmet will prove of little use to Global. He is a metallurgist and not qualified to define a resource definition. For that; you need a qualified mining engineer and if you want the market to believe it, it will have to be from an independent third party. There are many good ones around - BD, Bateman, Fluor etc.
Global should hire an engineering consulting firm to do third party, sacred dirt testing of your extraction method to ascertain whether the process is financially feasible. If they determine it is, then you would go to the next step with them -- drilling and ananlysis of the dirt. Then they use that data to provide Global with a resource definition. There just isn't any way around the above procedure, if you want the market place to fully value the stock.
On re-reading Ahmet's letter, what stands out to me is that he now has a large stock position and he would like to see that value enhanced. He is not an outside, dis-interested party to the proceedings. Global's stock has always been stuck in a rut. Pool hustlers, tennis players and metallurgists are not enough to get the stock properly valued -- Global needs to hire some professional mining people and then follow their advice. Anyone with doubts about this advice -- print this post out along with Ahmet's comments and have a mining engineer give you an opinion.
C L |
