rusty, if you are a GDR shareholder you would surely have read the quarterly on 19th Jan.
Clearly states that the fires caused a 4 to 5 week delay, underground mining will be ongoing right through this quarter. Also states as Profit Taker says that they expect to intersect and be excavating the first of the quartz reefs in January. Note that this is not just a sampling program as some of the lesser informed are saying, it is a full on mining exercise to extract between 4000 to 5000 tonnes of material which then will be crushed at the local quarry.
Some pretty silly comments being made by some posters who obviously have little understanding of GDR. Comparison with other Vic goldies is pointless, it all gets back to the quality and ability of management and from my view the GDR executive are top class. No big bang, all or nothing approach, just a conservative business plan, carefully executed to put one foot after the other.
There are many targets on the GDR leases, Eureka is first off the rank and hopefully will prove up to be a good mine. Personally I reckon that Tubal Cain will be the real big one however as long as the Eureka bulk sampling proves OK and they progress to full on mining there GDR then will have good cash flow to steadily grow. Then a bulk sampling program is scheduled at Tubal Cain in the second half of calendar 2007, get that up and running then perhaps they will quicken the pace somewhat. Tubal Cain gives every indication of being another Morning Star, can't wait for that bulk sampling.
GDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
