NEW GXPI DD FOR 09.12.07 (part 1):
RECAP OF PHONECALL WITH SEAN AT SEACOVE IR
COLUMBIA GOVT EQUIPMENT GRANT and MINE SECURITY:
Yesterday, at about 2:30 PM EST, I spoke with Sean at Seacove IR. As most of you know, Seacove handles investment relations for Gemini Exploration. The first thing we discussed was the nature of the equipment grant from the Government of Columbia to Gemini. The Government is taking steps such as described in the Gemini PR to help foster growth in mining since this area is being touted as the next mining hot spot which will lead to great employment opportunities for Columbians.
Sean wanted to stress that this was a "GRANT" not a "loan". Gemini doesn't have to pay anything back to the Government. The equipment is free and is being done to help stimulate the local economy via more jobs and the federal economoy via taxes on mine production. Hey, if you think about it, this is also great for security, as the Columbian Government is essentially, via its tax revenues, a partner with Gemini Exploration.
About security at the mines, Sean said that the Government has a vested interest in keeping the mining corporations safe to operate and that the equipment grant effectively showed the Columbian Govt to be putting their money where their mouth is. In other words, they will be protecting their tax investment.
Sean also said that besides public security, Govt/police etc, there is private security at the mines as well.
TRENCH SAMPLES, COLUMBIAN MINING SHOW and DRILLING PLANS:
Sean told me the trenching samples for the La Planada mine would be put into a PR "this week or next week". He also told me that they are excited about the Columbian Mining Conference/show at the end of September and that 30 days following that event, they would be issuing a PR on Gemini's plan for advancing to the drilling phase at La Planada.
Reading between the lines of Sean's statement, I think we can assume that the trenching samples must have been very strong, otherwise, why would they be giving me a direct timeline for issuing a PR pertaining to specific plans for drilling La Planada?
Think about it.
The mining conference is at the end of September, 30 days past that brings us to the end of October. They will issue a PR at the end of October detailing the plans for the drilling phase at La Planada. Without positive trenching samples, how could they be so ready to advance to the drilling stage?
MISC:
I also asked Sean if he knew anything about bigger mining companies sniffing around Gemini. Sean told me, "Nothing that the company will discuss at this time."
All of this comes directly from Sean At Seacove IR. The phone number is listed at the Gemini web site. Sean was very friendly and told me Seacove likes to hear from shareholders. So give him a call with your questions and please post the DD in this forum. I smelled excitement so kept the DD going with a phonecall to RMS-ROSS, the company mentioned by Gemini in their PR yesterday. Check my next post for that DD.
(continued in part 2)
AI
