re: Ann: Update on Korean Investment in the C...
Yes, so bloody disappointing, I agree. Prior to the April announcement (which was only a deferral anyway) we were 20+ cents, based on a whole lot of potential. Now, notwithstanding positive announcements in September, we are now valued at next to nothing.
I agree with Rogerken, we are headed towards 5 cents. Even if not, at the current 10 cents, the market is saying....the Coburn/Zircon, Mt. Gunson copper, Fowlers Bay and Tennant Creek projects are all worth next to nothing.
The Coburn /Zircon project needs to be started again under new management and/or a completely different approach. Surely it still has attraction and the costs/benefits stack up, even in this difficult global environment. And what has happened to all the hype, promise and excitement of the XStrata drilling program at Mt. Gunson? Were all the results dusters? We are overdue news on Mt Gunson drilling, but not a word from any source.
An optimist may say that in theory, POSCO can come through with a big "Yes" by the end of the year, and financing can be secured, and construction of the mine can commence. However, even to an optimist, it should be clear that the market is saying that this is not going to happen. What a bloody mess!
GUN Price at posting:
9.8¢ Sentiment: Hold Disclosure: Held
