watso has previously commented on the gda consolidations over the past 10 years or so . the last one, was two years ago, and at a meeting on feb 16 2006, shareholders gave approval for the consolidation of ONE BILLION shares down to 42 million shares. this has now blown out to somewhere between 600m and 700m (depending on how many options have been issued). the one constant over the years, when looking at the reports is placement placement placement placement. obvioulsy the directors know what to do to keep the company afloat
the east pilbara tenements seem to have gone the same way as the cookes creek nickel sulphide prospect, the madasgascar minerals project etc
as far as looking at the pretty coloured dots in the quarterly, it might be an idea, to look at company reports, to get an idea of what they are actually looking for. somewhere it is mentioned that exploration had been targeted to look for large deposits, but the gondwana focus, now, is on looking for gold deposits with a "small footprint" - ie probably small tonnage, high grade. it is important to keep in mind, that even when they do some drilling, and they do get intercepts, then initially, the biggest likelyhood, is exactly what they are targeting - but of course there can be surprises. but!!!!!!!! to find one or two "small footprint deposists" is neither here nore there.
keep in mind, that there needs ot be a mill, where the ore needs to be treated, as a few "small footprint deposits" will not justify a standalone mill.
watso is aware of some "arms length transactions" that a few months ago were worth in the order of about $10 per oz - and all because there was no local mill available to treat the ore
looking back through the reports and in april 2004, gda suggested that they might think about doing some mining at the golden virgin - three years later, at a substantially higher gold price, and that concept seems to be on the back burner. watso has no idea why, but maybe mill availability and distance could be factors
heh heh - watso can hear the calls = go away wanko but watso is far more factual in his posts than most. watso only has to look at the post by pastel, who was not too pleasant towards watso, and then stated that he should have listened to watso, and that watso is now his best friend
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t
GDA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
