dumping, page-6

Adelong is probably a dud to GCR because they probably do not have ther resources to run it. That's why they are selling it. I'm sure someone else with capabilities to match the contraints will run it successfully. I have never expected Adelong to reap much at all and as such it has never weighed in as a valuable asset.

From my perspective I do not rate the medium term for GCR. Too much project development required and too little cash flow. In the short term (6-8 weeks) I see a significant rise in SP to come with CH upgrades and drill results from various interests around the place. So I will hang around for at least that period of time. At the outside I will wait to see what happens with Broken Hill assets.

In the long term, perhaps in 3 years, GCR will be much closer to a medium sized operating mine at CH capable of producing 200 - 300 mil profit/ annum for 10 years.

Each to their own, but I see 50-100% gains over the next 6-8 weeks. My preliminary target is 7.2 - 7.5c with an outside 8c possible. Remember this, a 30-40% increase in CH will mean a 6 Moz + gold equivalent resource. Nice work if you can get it!

GC