Simrose, the tenements may have significant iron ore, they may even add 10% to the total GWR holdng, BUT the time to buy them and spend $10 million is not now. The company has not drilled investigated the extent of its owned tenements, why would it be evaluating outside tenements before its own. Right now the focus should be on generating cash flow, CASH is the missing element in the economic cycle at present, cash through offtake agreements, the sale of minority shareholdings to cement relationships with CUSTOMERS.
In Western Australia there is plenty of iron ore, in the near future there will still be plenty of iron ore but fewer and fewer customers. GWR should use all its resources, effort and ambition to secure MOU's and contracts with customers who can assist with railway and port development.
GWR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
