Certainly looks like a distressed/desperate "motivated" seller...

Certainly looks like a distressed/desperate "motivated" seller to me? The future will tell if this is a genius move, or if they have sold an asset right at the bottom of the cycle.....

I had a quick look at Great Eastern Gold, private at the moment, but its notable that it has retained Ian Hodkinson on the board and he sure has a lot of experience, they seem to parley themselves as a QLD and WA specialist low volume high grade selective miner/developer although perhaps more of a pre-IPO mine incubator/land-banker holding co might be another explanation. They have enough projects themselves already, so I think this is part of a longer term spin-out or transaction that may become apparent in the future. With the market sentiment towards gold miners at the moment I bet that they are private and aren't trading on the ASX.

At $250K who would say no though? If the price of gold jumps up they will be able to sell Big Rush for more than that.