dumping, page-9

Hi Guys
Re Adelong- back in 19/5/04 GCR obtained from NCM the Dobroyde Gold project 95kms from Adelong. It was supposed to improve the economics of adelong. trolling thru the announ I cannot see any further mention. My conclusion is that Dobroyde was not going help and Adelong is not economic for large scale commercial production.

But more importantly....
GCR current policy reminds me of hyperthermia. The body shuts down its extremities to keep the vital organs going. That is what is happening. GCR do not have unlimited resources. either money or manpower. It is so hard to obtain and keep any professional in mining atm. They have a potential company making project in CH. Management have decided that CH is their future and the rest of their tenements are diverting vital resources from this project. Obvious solution..farm out what they can. They did not proceed with NT tenement (i imagine for this same reason)

GCR is not broke and we are sitting on a huge resource. The low grade i think is the issue which is not exciting the market. But Cadia was not very different at the beginning.

Its hard to be confident when the market is telling us otherwise. I'm not 100% confident but I'm still very hopeful and to me, GCR strategy of concentrating resources seems the right one atm.