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Tibbs,

This will be predominantly a non-news driven stock...as such, do not expect it to go up every day.

Need to look to the weekly charts for a better feel...which suggests this week will likely be flat (low volume) and next week will likely end high with increased volumes, perhaps closing near 51-53c. The following week to this should see 65c get a tickle on high volumes?

Of course left of field events can always throw a cat among the pigeons, as we saw from the markets reaction to the BHP coal acquisitions...but on the whole, I expect to see the stock rise gradually over time to a fair level.

It is not all dull and boring however, especially with the near-term drilling at Cethana (2-3 weeks?)...a decent porphyry target that could surpirse with a little luck?

For those unaware, the Avondale project alone has been valued at 34cps (fully diluted), suggesting the rest of the company and indeed the two more recent coal acquisitons are barely accounted for.

In particular, the ex BHP Elouera acquisition will see GUJ producing coking coal withing 6 weeks, in addition to the value add to their next door Avondale project through obvious synergies and indeed the instant removal for stand-alone infurstructure...all of which exists in the BHP acquisition...lol...they eveb pick up a private rail link to port!

GUJ have in my view achieved critical mass here...easily in fact...which kind of makes them a serious contender now...and one likely to be pushing out profits (and divedends) quicker than some might think.

Anyway, a little info on the Cethana target...

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Total Magnetic Intensity (TMI)


Cethana region
1st Vertical Derivitive Magnetic (1VD)

Previous Drilling

A reverse circulation drill hole (PD1) was drilled by Shell in the early 1980's. It was located approximately in the centre of the Cethana aeromagnetic anomaly, but was collared away from previously detected geochemical anomalism and distal to the Campbells Reward Goldmine.

PD1 was drilled to a depth of 144m. It passed through 58m of Tertiary cover before intersecting Cambrian magnetite-altered volcanic.

Without reason, the hole was assayed every 2m through Tertiary cover but only once every 10m in the mineralised volcanic.

PD1 suffered from water problems and sample dilution, and the results are suspect. Although only mildly anomalous in copper (the log showing up to 280ppm Cu and 290ppm Zn), the results were mistakenly under-reported as being a maximum of only 105ppm Cu.

Gold was not assayed.

Susceptibilities measured from drill chips were believed at the time to explain the anomaly as being a magnetite-altered andesite. This contrasts with more recent modelling of the geophysics showing that PD1 did not penetrate to the source of the anomaly.

No attempt was made to determine the cause of the alteration.


3D aeromagnetic image (view looking east), showing the region surrounding the Cethana aeromagnetic anomaly. (Field of view is about 25km x 25km.)

The Cethana anomaly is one of the the highest intensity anomalies within the prospective Mt Read Volcanic belt.

The intensity of the anomaly is about 2100nT.


Aeromagnetic image of northern and western Tasmania. Coast shown in white. Field of view is about 200km x 200km.

The target highlights the Cethana aeromagnetic anomaly within WTRMP data. This point feature is one of the highest intensity anomalies within the prospective Mt Read Volcanic belt.

Outside of the Mt Read Volcanics, the Cethana anomaly is generally surpassed only by the Cambrian ultramafics and the Savage River iron ore deposits


A porphyry model for mineralisation at Cethana is consistent with the mineral assamblage identified to date, as well as alteration characteristics.

A number of deposit models are possible for the Cethana anomaly, including VHMS, Iron oxide Cu-Au and Intrusion-related gold. To date, the Cethana anomaly shows characteristics most like eastern Australian porphyry Cu-Au deposits, such as those at Cadia in New South Wales.

Similar Cu-Au deposits in Tasmania might include those around the Mt Lyell field (311Mt @ 0.96% Cu, 0.31g/t Au, eg Prince Lyell).

The Cethana anomaly remains untested and unexplained!

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So...at today's share price, this particular near term drilling target is being valued at about negative 10c per share...lol...I'm in (just two more buy orders to go), don't say you were not given fair warning!

Cheers!