2007 annual report , page-2

Hi Watso,

I am of the view that you normally believe in "fair play". But I dont believe you are being fair in your comments re fatstocks quote on cash. I have read his post closely and found nothing innacurate. His statements are statements of fact on funds coming in to the company. Of course there will be some expenditure along the way, that is simply stating the obvious. Also, you are speculating as to what their expenditure for the March quarter will be. Well, that is pure speculation and we need to wait for the March quarterly report to establish the position. Also, you mention that current assets dont mean anything. That is not correct as in accounting terms they mean a lot. Exploration assets can be sold or farmed out in joint ventures for a cash consideration. They are very important and Gondwana has a substantial portfolio of such assets.

The Pilbara is in focus for its minerals and GDA is part of that story.

Cheers
SAV