I can't see how you can possibly comment "Lots of drilling but only a very few good results" . Are we reading the same GDR announcements?
To me, their recent announcements of results of their drilling have been extremely positive. For example: at Eureka, a 16% expansion of the down dip extent of the reef and discovery of another high grade reef; an indicated depth of at least 300m (with 430,000 tonnes of quartz reef material indicated so far); a 0.35m intersection of 5604 g/t Au; the dyke bulge and reef system still open at depth (with 430,000 tonnes of quartz reef material); at Tubal Cain, drilling showing it contains at least 1.1 million tonnes of potential high-grade quartz reef material to a depth of 300m, drilling also showing the dyke bulge continues to a least 600m and remains open at depth.
So that drilling has identified: * what appears to be at least 1.5 million tonnes of quartz reef material (and historical mining in this area has shown such quartz reef material graded almost an ounce a tonne) down to 300-350m * reef systems that are highly likely to continue to a least 900m and more (eg the nearby Morning Star mine was mined to over 900m by the old timers) * the surrounding dyke and sediments provide significant additional tonnes of mineralised material (in the case of Eureka, this was an additional 900k tonnes of material on top of the 430k tonnes of quartz reef they have identified).
And we can add to this regional exploration that has identified substantial lines of mineralisation with likely repeat lines of dyke bulges.
On top of that, GDR's announcements show they are making serious progress on their bulk sampling program - with the supporting capital works to be used when the decision to mine gets the go ahead (increasingly likely with the sort of drilling results they are announcing).
And as for your comment about directors spruiking - I would say Andrew King's comment on the 5604 g/t Au was incredibly subdued - merely noting that such intersections were clearly not representative of the average grade of quartz reefs! I can think of a ton of other junior and not so junior goldies that would be screaming from the rooftops if they uncovered grades a hundredth as good.
Still, each to their own interpretation of what the results mean. Your money, your decision on where to invest it.
To me though, GDR's recent string of announcements contain a plenty of good results and indicate this is a company with an excellent future. Time - and the share price - will tell.
GDR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
