Just wondering what sort of deal GTE are trying to get done here.
The unlisted public company obviously have sank a bit of money into drilling their tenement to get to the stage where it might be promising enough to explore further.
GTE are looking for a more advanced project to save on any costs it might have to make on its other tenements to get to the same stage.
GTE market cap is just under $5m and it was only $2.5m before news was made public on this latest idea.
You would think the unlisted company would not give it up for free though.
So what do you guys think would be a reasonable outcome if this came to fruition?
It would seem the unlisted company would need funds to progress the project further.
GTE on the other hand are a listed company with no funds.
I am sure Jordan and co. are fed up with ploughing their own money into propping up GTE.
Terry Grammar's contacts might have come in useful here(old boys club)
The saving grace here might be a merger of both entities and a re naming of the company.
If the promising gold discovery is as good as they say then release the results in tandem with the company change of direction which will increase the SP and give enough credence to raise more money.
GTE cant keep going the way they are and keeping half the company with an advance gold project is better than the directors continually propping it up.
Like their mission statement says "success starts with opportunity"
Any other ideas?
GTE Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held
