X-Mas, page-2

Hi gfu - good to see a post here after a long time.

My comment on management is at least they had the guts in the annual report to be honest and say transparently that at the current iron ore price the whole Wiluna project is unfeasible.

Given GWR still has lots of cash the question is what should management do? One possibility is that they increase their Tungsten investment with TGN? GWR owns 16.5% of TGN and their share price has recently doubled and now has a larger market cap than GWR! + we share the same CEO Craig Ferrier and other directors.

Perhaps a merger with TGN may make sense - TGN needs the capital and have a project - GWR has capital but has no project.