Rhama Thanks for the reply. Cambodia is held at a book value of...

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Shoelace2000

73 Posts.

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04/05/18

11:43

Post #: 32883520
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Originally posted by Rhama ↑

Hi Shoelace,

I realise that Woodlark is the main focus at the moment and has lots of potential but, I for one, believe that Cambodia could actually be much better. Up until Woodlark came onto the books in early 2016, from memory, there'd been a lot of interesting exploration going on in Cambodia. If you go back through the ASX announcements prior to the focus on Woodlark - 2016 and earlier - you'll find plenty of interesting drilling announcements. Even though I understood why, I was saddened by the fact they stopped drilling at tenements 150 & 190.

The impression I've had all along is that Woodlark is a nearer term cash generator for the purpose of funding further exploration in both Fiji and Cambodia. It seems GPR have cooled a bit in relation to the Fijian prospects - seeing as how they might sell them - but Cambodia seems to be still firmly on their radar. And rightly so. They already have a JORC resource for a gold and copper lease and there seems to be plenty of potential for their other tenements.

There's no doubt that Woodlark is a company maker and fantastic but, in my opinion, Cambodia is where the long termers will really clean up on. I'm still interested in Fiji too but we will have to wait and see of if GPR remain committed.

Hope that helps

Rhama

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Rhama

Thanks for the reply. Cambodia is held at a book value of $38M with no write down provision so management and the Board (and presumably the auditor) must be satisfied that there is sufficient value to justify keeping this going! It's always a shame when assets that are not going to go anywhere are kept going when money could be sunk into the winners. Hopefully the sale of Fiji will bring in some capital also. Lots to be positive about and the MD and team have done an amazing job on the ground with the Woodlark.

GPR Price at posting: 3.6¢ Sentiment: Hold Disclosure: Held
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