Good to see the value in GDA's interests in the iron ore jv with...

Good to see the value in GDA's interests in the iron ore jv with Cazaly realised early. Better to get $1m cash up front and early than wait for the $3 to $4m down the track.
The cash allows Gondwana to target their stated goal of advancing the Coruna Downs iron ore in the east pilbara which looks to have higher iron content and a potentially much larger resource.
Having Cazaly as a jv partner at Mt Caudan and them spending $1m to identify an iron ore resource that they have effectively paid $1m in exploration costs to identify and another $1m to Gondwana ( cash and shares) to increase their % holding has been a very cost effective way for GDA to extract some value from the tenements.
The cash now frees up GDA to further concentrate on the majority owned interests in higher grade iron ore.
Well done GDA.