Geologix Explorations Inc GIXEF

RE:Anyone else read this?

[StocksLynx]

If Geologix would do a financing based on new shares at the current share price it would be the aquivalence of accepting 30% interest rate to finance mine production.
I think your quote means what is obvious: Geologix has less than 1 million cash left, the project requires at least 300 million to advance it towards production.
What other "advances" are possible? Advaning to feasability study (but this was planned to do as first step *after* conditional financing. What else? Exploration! This would be extremely silly at this point of time. What else? Maintaining the licenses, paying salaries and office space. Again, I think it would be silly to offer new shares at the current share price by selling $30 million NAV to just get $900,000 to keep going. If that would be the case Dunham would do a very bad job or is bought from financing people. Reducing the burn rate and selling of other assets in parts or whole would be the better choice to keep going.
Dunham said several times that they are seeking for "non-diltive ways" of financing. I trust him until reality proves this wrong.

What I think the the share price is driving lower is more lack of buying interest and *not* selling pressure. Look to buy/sale volume since mid of March, the average daily buying volume was about $5,000 which is next to nothing, it would translate into one tiny retail investor sold out every day and anybody else bought them cheap.
Maybe we *had* selling pressure as PG dumped his shares and share price went from $.17 to $.07.