regarding those GDR tenements surrounding Woods Point: it seems to me that under Victorian Govt DPI policy of "use it or lose it" that if GDR goes into receivership, which seems highly likely, then all of GDR's tenements are up for grabs at almost no cost to acquire. This could explain why there has been no interest (that I am aware of) in any other company purchasing GDR tenements. It looks like MCO could have a reasonable claim to them as MCO owns several drilling rigs and have the finance to explore new tenements in the region.
So by GDR's virtual default it could be that MCO is first on the list to acquire some GDR tenements, not that they particularly want them as they have plenty to go on with.
Maybe Franklins will do some exploring so as to acquire GDR's tenements? or GSE perhaps, who have an active drilling program in the region.
Further discussion welcome, and if you know or understand more about the situation then please contribute.
MCO Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
