gondwana good as gold

The gold tenements of Gondwana are extensive and the exploration update gave us some news on tenements free of plaints, I counted 20 tenements where paints have been dismissed in favour of Gondwana in the news.
With 50% of the 11,544 soil samples having been submitted for assay, the preliminary gold results are available for release , like the mt caudian iron-ore results, later this month.
But what of the gold and the decision to mine ? The forward spot price of gold is powering ahead and the announcments should have some commentary about the total estimated resource and plans to commence mining operations. The Parker Range Gold Project has been in the pipeline now for years and a decision to mine needs to be made once the reults are reported this month. With the price of gold going higher (see the Yahoo finance article below) and higher and thousands of assays having been completed, Gondwana should be set to announce plans to RC drill the revealled targets to confirm a decision to mine or not.
The price of gold is showing long term growth and strength for the reasons identified in the article (just out)and some good assays in the Parker Range Gold project should trigger RC drilling programs. If the massive tenements and number of samples being tested using the new MMI (Mobile Metal Ion)don't show enough to start a RC drilling program given the current and forward projected gold price, they never will as the patented MMI program designed by ex CSIRO geologist from W.A. is a high resolution soil geochemistry that allows "seeing though" several hundred metres of overburden and can identify gold mineralisation missed by earlier generations of gold explorers.
There is a total of 40km of strike length target,there is Mt Caudian, Centenary, Buffalo and Spring Hill and Burbridge and the last quarterly report also announced a major upgrade of Gondwana's digital database to facilitate the next important phase of Gondwanas gold exploration. I hope it also includes the 5 tenements in the pilbara and the moodong well tenement.
This might just be a very important announcement that could generate a path to Gondwana becoming a gold producer, cross your fingers.......

Article starts....
AP
Gold Hits Record $900 an Ounce
Friday January 11, 4:40 pm ET
By Stevenson Jacobs, AP Business Writer
Gold Futures Surge to Record $900 an Ounce on Weak Dollar, Fears of U.S. Recession

NEW YORK (AP) -- Gold futures briefly rose above $900 an ounce -- an all-time high -- before pulling back Friday as growing worries of a U.S. recession prompted uneasy investors to keep buying the precious metal.

An ounce of gold for February delivery on the New York Mercantile Exchange jumped $6.50 to $900.10 in morning trading, an all-time high and a psychologically important milestone. The precious metal later fell on profit-taking but still ended $4.10 higher to settle at $897.70 an ounce, a new closing record.

Gold also hit an all-time high of $897.30 on Thursday.

"It's a reflection of market sentiment: Gold is a hedge against uncertainty and right now it's the best bet," said Carlos Sanchez, a precious metals analyst at CPM Group in New York. "None of the other investment options look that great and gold does."

Still, when adjusted for inflation, gold remains well below its all-time high. An ounce of gold at $875 in 1980 would be worth $2,115 to $2,200 today.

Gold has had a meteoric rise the past year -- rising nearly 32 percent in 2007 -- boosted by a falling dollar, rising prices for oil and other commodities and increased Middle East instability. Those trends have lifted the metal's appeal as a haven; gold is seen as a safe investment in times of political and economic uncertainty around the world.

Also driving gold higher was Federal Reserve Chairman Ben Bernanke's pledge Thursday to cut interest rates to boost the economy, which some fear may be sliding toward recession amid turmoil in the housing and credit markets.

Lower interest rates tend to depress a country's currency and drive investors to shift funds to hard assets, like gold. A cheap dollar can make commodities more attractive as an alternative investment, and can also raise demand from foreign buyers as their currencies gain strength.

"Concerns of a recession will keep pushing up gold prices," Sanchez said. "Depending upon what happens in the economy and in the Middle East, we could see gold testing $1,000 an ounce, maybe even this quarter."

Hedge and pension funds, along with other long-term investors, also flocked to gold as the mortgage and credit crisis in the U.S. intensified.

"The funds are really heavily at play ... The momentum with gold is almost like mania. We keep wondering how high it will go," said Jon Nadler, an analyst with Kitco Bullion Dealers in Montreal.

Investors looking to get in on the gold rush can expect continued volatility for the rest of the year, said Nadler, whose firm forecasts a trading range of $750 to $950 an ounce.

The steep rise in precious metals will also mean consumers in the United States -- the biggest buyer of gold after India -- can expect to pay higher prices for gold earrings, bracelets and other jewelry....." ends

cheers Fatstocks