Hold GOA as Croydon, PNG, Brazil projects (and low $MC) look interesting however progress disappoints so far. Now at almost all time low, the JV line in last announcement is probably the most intelligent phrase I have read from them in while. Croydon is an extensive target and will require some deeper pockets than GOA’s atm, agree Seals/Blythefan that some better results would have put them on higher ground but drilling only 10 holes in a large target is not end game. Hopeful other companies see more potential here.
The larger the JV company the better the exploration profile for Croydon and GOA but I would always settle for the better geo and exploration team. GOA will still have high leverage to Croydon with minority interest which could enable more progress in PNG and Brazil. Some cash flung at GOA from the possible JV partner would also be nice……KZL or ZFX from a local prospective could be possible larger candidates. Gold FX from Canada is also possible IMO.
Is a JV in PNG on the cards as well? Recent report mentioned update of current resource estimate after December08. Could be a precursor to JV discussions IMHO.
DYOR
GOA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held