The real problem is that the company has underperformed this...

The real problem is that the company has underperformed this year. Its a real shame, I still think this looks good considering the revenue they will be getting from Barnes Hill.

But they haven't reported any progress on any of their other projects. Not to say there has been no progress, just that they haven't reported anything.

Lets look at the status of their current projects:
- Doolgunna - nothing much has been reported out of GTE's Doolgunna exploration which I take to mean their drilling hasn't discoved anything. I was expecting some drilling results from them at the start of the year.
- Clara Hills - Drilling/Exploration was supposed to be early this year
- NT - still a year off any drill results
- Waite Kauri - looks like just a strategic bit of ground
- German project - years away from any work there

I think this explains the current share price, but I still remain optimistic about it despite all this.