Yes. The reason for the capital raisings, was for exploration spend. One of the few companies that is doing serious exploration on two project simultaneously.
There will probably be another one next year, hopefully at a higher price.
I think they can only push PNG once the JV ownership ratio with Yamarna is reset. They have been earning a higher share (than 60%), but I dont think anyone but GOA/Yamarna know what that ratio currently is.
Even at the old 60% and the old 800koz resource base, you are looking at 4 oz of Gold per GOA share.
Not bad for 8c. Where else can you buy 4 oz Au for 8c! Lol.
GOA Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
