GGY will turn the half year with 8.5 m in the bank.
I am not satisfied about a 0.75M spend in Q1 09/10 when they didnt do any exploration. 375 k for admin / audit costs , 375 for work = 125 k of salaries and travel / month which should mean the MD, 2 Snr Geos and 2 Jnr Geos = 75 technical weeks available.
5 Projects = 15 technical weeks / project.
Must be picking difficult ones to assess or else they are very big!
GGY Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
