speeding ticket?, page-13

Andy

That is a really difficult question to answer, especially in this market and to tell you the truth I'd only be guessing.

One thing we do know is that If all the oppies (incl the 15.4m directors oppies) are converted, the cash backing alone would be around 5 cents per share.

I think that if the market continues to improve or at least gives us some reassurance that the bottom has passed, it would not surprise me to see GDN reach true value come production. That said, we really do need to know what lies below the current depth and certainly a full appraisal of the well before we can apply any $ value to the stock.