watso still here. gda still a dog

watso has been doing all the supporters of gda a favour, be not posting for a while, sadly, nothing has changed. so watso cannot be blamed for the fall

watso has noticed, that apart from a few stalwarts, once again, after the last run, there are a number of new posters, who obviously bought in on the run, but a lot of the previous holders bailed out.

it has been interesting to read the comments, but despite all the bullish posts, the stock drifts back - and indeed, as has been commented, the consolidation has been a disaster for shareholders - but then again, that is the norm, where the company has not got much to offer

a big concern for current shareholders, is that they are about to be diluted, as the company once again starts to issue more shares. this should be so obvious, and could even explain the recent weakness

just think about it, the last cash flow statement showed that the company had a closing balance of about $1.5m. however, after taking accounts payable ( ie unpaid accounts)into account, then the real balance would be closer to $1m. come the end of june, the real balance will be probably be sub $500,000. the company intends to do 5000m of drilling at parker range, which will cost $500,000 in round figures - then add other exploration costs and admin cost, then if the company does the drilling in the coming quarter, then it will probably spend a total of about $1m. the company cannot rely on raising what it needs, from the exercise of options, as a lot of option holders might be a bit cautious about throwing in more money at this stage.

watso would not be remotely surprised if the company is trying to organize a placement, at this very moment , or at the very least, seriously thinking about it., as simply the company is not cashed up. do not forget that any new issue, will be at a discount to market

comment was made how beckwith was 15 minutes late for the agm, while he picked up someone from the airport - when maybe someone else could have done it - or for that matter could have caught a taxi. as far as the agm is concerned, a lot of companies release a copy of the chairmans report to the stock exxchange - but alas, there was no such report released, so one wonders if the company really had much to crow about.

the only crowing has been coming from some posters, whoc constantly refer to a pipeline of news in the "coming days, coming weeks" etc etc - but in the end, it seems that the company has very little to announce. and how about the excuses that because the code was gdadd (or whatever), that investors were confused, and thus reluctant to buy - well, it seems that with the code back to gda, the only thing that has happened is that the shares are getting sold down

the consolidation did no good for shareholders, the bonus issue of one for eight, is really a waste of time, as the shares will decrease in value, by the same amount, and the freebie option issue, sill also be reflected in a lower price. after the freebies, do not be surprised to see this stock at 10c.

frankly, it is a waste of time, to get excited by

some poster was getting excited by some good samples of copper and zinc - the only problem is that they came from a "narrow vein" (probably a few inches in width), and it is not all that unusual to get some good grades from a narrow vein. no wonder, in the end , the market was not impressed, and re releasing the results will do nothing - however, they will get mentioned again in the next quarterly

10c, here we come - after the freebie issues