cage rattler, page-7

This all started with thte failure of the in-fill drilling, so the mine is limited.

They also had problems with the jumbo mining equipment, so the gold extraction for the last quarter was down, and below the quantity that was economic.

Faced with these promlems, the management looks to have taken a huge gamble, and ramped up exploration to a point where it was a last roll of the dice, given the costs last quarter were so large.

So now we sit and wait. I am sitting on a large loss, probably like most of you that are reading this.

What I did not see on their last report was a statement of proven reserves, and with a ramped up production what is the remaining mine life at chariot.

With 900,000,000 shares on isue, another placement makes the gold look pritey thin on the ground.

As to a joint venture, why would anyone bother? If someone else has found gold in the TNK reagon, wouldent they be better to buy the plant from the liquidators, rather than form a joint venture. In the same way GTM picked it up for a song.

I hold GTM shares, and I have also lived in Tenant creek. I hope I am wrong, but after many years of trying, I think this may be the end......that is unless the lucky punter on his way to the door hit the jackpot. It happens, but not often.