running again - up 16.67%, page-12

makattack

watso suggests that you look at several "estimates", and compare to "actual", and you will start to learn how totally rubbery these figures are. anyway, in watso's first comment on the matter, he used the following wording

>>>(if the company spends about the same this quarter).

notice the use of the word IF.

just think about it - but the company all of a sudden has raised some money.... = = = spend more. if the company is running low on funds, then of course it cannot budget to spend more than what it needs to survive till the next capital raising

true,the cash figure at the end of the quarter will be about the same...but only if the loans are not called in - but there is probably no need, as the interest rate is good - so they will be left in place.

doogsie

their interest in the mt caudan iron project was their best asset, and provided the best opportunity for a future income stream, which would have covered plenty of future exploration. watso has previously posted some numbers on this , but cannot be bothered to look for the post - but 15% of about 3m of annual production of iron ore, would equate to about 450,000 tonnes. from memory, it might cost about $15 per tonne to mine, then about 20c per tonne/km to transport by truck to a rail siding, then the rail freight to port. sure there are capital costs, and obviously some other costs, but the return for just digging out a bit of dirt, must be good (subject to price). watso did not look too hard, but the spot price in july was about au$100 per tonne (62% iron , including freight). there must be easy money there. ok, it all depended on caz organizing everything, but they seem to be keen. watso always claimed that the best way into mt caudan was through caz, which seems to have been the way

it is obvious, that when gda approached caz, they needed the funds (that is why the estimated exploration figure was only $200,000), and they sold at a give a way price. no wonder caz where excited by the deal.

the caz deal gave gda a bit of breathing space - but it was a bit like selling a $1m property for $100,000 - that also gives some breathing space - or going to a loan shark, and paying 5% month interest (now that is a complex issue, and depends on the size of the loan)

well, the shares were up today - but maybe only because the company has some breathing space. frankly, the company has nothing going for it. the fully diluted market cap is $10m - which is far too much