GDN 0.00% 1.7¢ golden state resources limited

I get that everyone's excited, and I hold stock too and I am not...

  1. 479 Posts.
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    I get that everyone's excited, and I hold stock too and I am not downramping..I am trying to give a dose of reality

    there is nothing positive in this announcement, it's like sleight of hand..

    IN THIS HAND "hey we got 1 mmcfd out of 2 wells, one of which we were reporting as 3mmcfd then 1.97mmcfd...it's taken us 4 years, tens of millions of dollars and huge dilutions"

    ...BUT over here

    "we are going to be producers because we asked someone to give us a price to build a gas plant, also ...someone might lend us some money to do that"

    100% owned gas field, but at the rate they produce gas and burn up costs...it's gonna be 100 years before we see a return
 
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Currently unlisted public company.

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