overview of gpn

The following is an overview of GPN. I make no judgement here in regards to value or otherwise but simply outline the assets and current position of the company.

Shares currently on issue - 952m
Options - 929m expiry 31/05/2008. Conversion price - 3c

To be issued for another 20% of Apogei:
Shares - 55m
options - 55m expiry 31/05/2011. Conversion price - 4c

Total shares/options on issue after purchase of another 20% of Apogei:
Shares - 1007m
Options 929m expiry 2008
Options 55m expiry 2011

Market capitalisation 1007m x .015 = $15.1m

Assets:

Gold and uranium joint venture with Montezuma Mining (MZM)

Robinson Range J/V. (MZM 70% / GPN 30% free carried to a BFS) 125km north of Meekatharra.
GPN contributing leases - E52/1426, 1428, 1560, 1581, 1586, 1862 & 1976.
MZM contributing leases - E52/2061, 2062, 2063, 2069, 2078, 2079, 2080 & 2081.
Exploration to date has identified the following results;
Billara Bore2 - up to .11% uranium
Billara Bore4 - up to .092% uranium
Anne Prospect - up to .22% uranium
MZM as operator of the project has identified areas with significant gold potential which will also be a key part of follow up work.


Gold and uranium joint venture with Aurium Gold (AGU)

Peak Hill J/V. (AGU 50% /GPN 50%)150km nn/w of Meekatharra. Exploring for gold and uranium.
GPN contributing leases - E52/1481, 1518, 1557, 1857, 1860 & 1862.
AGU contributing leases - E52/2086 & 2087.
AGU paid GPN $300k cash, will fund the first $1.2m in exploration costs and expend the first $1m in a gold processing plant design and development if an economic resource is identified.

80 holes totalling 4852m of drilling was completed in July and the results were released on 16/11/07. No significant gold was found, with the best result being 2m @ 0.41g/t. No uranium drilling is planned in the first year of the j/v.

Drilling in 1989 by Dominion/Homestake on E52/1861 returned 3m @ 3.57g/t and RAB/RC drilling in 1993 by Sabminco on E52/1860 had a best interception of 9m @ 10.3g/t on the Saturn West anomoly. Other leases have also returned gold intercepts during previous drilling in the 1990s.


Gold royalty. Dependant on more than 100k oz being produced from the Riverina deposit after which GPN will receive a 6% royalty from Monarch Gold. Currently 68k oz produced and another 70k oz identified to be put through the Davyhurst plant close by. According to a recent presentation by Monarch Gold there is a 200k oz resource at Riverina.


Apogei - 80% direct holding (including future puchase of 20% mentioneed above).
Apogei's assets total 4 tenements in the NT, being:

ELA 25638 - Mann
ELA 25645 - Gumadeer
ELA 26076 - Table Hill

These 3 tenements make up the West Arnhem Tenure (WAT) and are within the Alligator Rivers Uranium Field (ARUF) 30km east of the former Nabarlek Uranium Mine which produced 12000t of uranium.

MCN 668-671 - McKeddies. This area is prospective for both gold and uranium. GBS Gold has outlined a 3.4m oz resource south of McKeddies and 40km to the s/e lies the South Alligator Valley Uranium Field, one of the richest uranium mining areas discovered in Australia.


21% holding in Yellow Rock Resources (YRR)
Shares on issue - 188m
Options on issue - 172m expiry 30/11/09 conversion price - 20c

Market capitalisation - 182m x .22 = $41.36m

Assets of YRR:

Nowthanna Uranium Project. 47km s/e of Meekatharra.
MLA 51/771 has a JORC resource of 7.3mt @ .450kg/t containing 3289t of uranium.


Gabinintha Vanadium Project. 43km s/e of Meekatharra. 58km2 consisting of the following leases:
EL 51/431
EL 51/843
MLA 51/772
MLA 51/814
PLA 51/2226
9.5km out of a total 12.2km strike length drilled. The recent 42 hole drilling program of 3876m expanded the JORC resource identified so far to:
92.5mt grading .81% vanadium, 9.81% titanium oxide and 51.2% iron ore.

6860m of RC and 300m of diamond core drilling is planned at an estimated cost of $800k including assays.

The Gabinintha area is highly prospective for uranium as well. YRR's Nowthanna uranium resource is just 5km away.


Tenements of Cabe Resources (100% YRR controlled)
NT - Arunta area, 4 leases:
ELA 25418 - Mt Denison 663km2
EL 25426 - Turners Dome 1515km2
ELA 25445 - Mt Nickel 1398km2
ELA 25667 - Mt Cockburn 1146km2
Total area = 4722km2

All 4 tenements are located on the edges of the Ngalia Basin which hosts Energy Metals/Paladin JORC beposit at Bigryli (4.5mt @.14% uranium = 6300t)

WA - Yanre
EL 08/1710 130km2. 20 km from Manyingee. Paladin owns a 12000t resource at Manyingee.

WA - Lake Maitland
EL 53/1265
EL 53/1266
Located either side of Mega Uranium's 10747t JORC uranium resource.
50km from Yeeliree. BHP has the Yeeliree deposit containing an estimated 500000t resource.


Tenements of Austalian Uranium (100% YRR controlled)
EL 24883 - Money Shoal Basin Uranium Project. 1123km2 encompassing the eastern half of the Woolner Dome.

EL 25339 - Douglas Range Uranium Project. 471km2. 67km s/e of Rum Jungle


Apogei - 20% owned by YRR. Currently 60% owned by GPN and soon to be 80%. Refer above for Apogei assets.

Hope this helps anyone trying to get a handle on just what GPN has but not wanting to trawl through all the information. It would be good if the company actually tried to promote itself by releasing a presentation one day. well that's it for me on GPN. All the best to holders, have a great xmas and may next year be a good one.