qtrly statement, page-16

G'day Tibi & all GTE holders,
My thoughts are exactly the same since day dot.... this is a keeper & I won't be selling till it hits $1.00 + (only my honest opinion of course)
There are a vast number of positives to take from the qrtly, namely:

1. "While over half of the drilling results are still pending the drill programme has already greatly
exceeded the companys expectations by intersecting a thick sequences of bi-modal volcanic
stratigraphy comprised of felsic lavas (rhyolite) & tuffs, andesite, basalt, dolerite, exhalative chert
and carbonaceous shale. The drilling also intersected various concentrations of hydrothermal
alteration consisting epidote, sericite, silica and sulphide alteration with concentrations up to 10%
which is very important for VMS mineralisation."

2. "The fact that the sequence is located 50km SE, but could be as close as 25km, from Degrussa and is
co-incident with high order multi-element regional geochemical anomalies (the largest and strongest
in the entire district) is highly indicative that this bi-modal sequence will also host VMS
mineralisation"

3."The 800m x 800m regional soil grid was extended to the north, east and west covering more of the
Killara volcanic rocks. The results from this programme have been very positive with a further six
prospective areas identified taking the total number of prospective areas at Doolgunna to eleven
with only 30% of the project area covered by the regional survey so far.
The regional geochemistry is working well identifying stratigraphy prospective for VMS and the
latest results show there are at least three more sequences to the north that have potential
mineralisation."

4. "The company has now collected enough soil samples to establish a statistically meaningful dataset
and compared the results to other operators in the district that have published soil results using
similar techniques and from this the company is confident that not only are these genuine anomalies on a local scale but are regionally significant as well."

So - all in all very encouraging information, however there is an obvious pullback in the s/p as Mr Market was expecting more tangible results....time will tell (probably the next 6 months will see a major shift in this company one way or another).

Re Pine Creek: I am guessing that with all the drilling focus on Doolgunna they have had to give up on the lease applications...In my mind it is a move that shows the company is going for paydirt in Doolgunna as all the work is this area is showing that this is where we need to concentrate all the companys efforts.
We also still have Ularring for our Uranium play. THX not doing great guns in the Pine Creek area thus far so imho it is a great signal to the market that Doolgunna is the main GAME. GO FOR IT GTE !!!