supplementary prospectus

watso has always questioned the parker range tenements (but never say never). has anybody read the supplementary prospectus - and fatstocks in particular. what a downgrade that is. without quoting the whole lot - but just briefly, it seems that the company is now committed to completing "PREfeasibility studies.... the quantity and grade are conceptual in nature blah blah. and other amendments - all doing the same thing, and that is to push out the time frames. gda have been sitting on these tenements for donkey years, and have not achieved much.

watso used to give some hope, and acknowledged that if sbm took up equity in the prospects, under the terms of the "exploration alliance" (or whatever it was), then gda could be a buy. the chances of sbm taking up the equity, are now very remote (from memory, has to be done by the end of this year). without the exporation alliance, watso would suggest that any small deposit will become isolated, and will not be treated until sbm exhaust their own reserves (but watso might be wrong)

the initial funds raised by the present issue will not last long, and watso strongly suggests that the funds will expire prior to the exercise of the piggy bank options - thus meaning another issue, or placement.

fatstocks has referred to the exploration success of bci. one should have a look at how much funds bci have expended on exploration to achieve the results. sadly, for present gda shareholders, iron ore, is not a particulary hot commodity, and the gda tenements are not much more than moose pasture, on which a lot of funds will need to be spent. but, that will give shareholders a lot of incentive to toss in more and more funds.

for those loyal shareholders, there will be a very good chance of another consolidation in a years time, as the share capital has every chance of exploding again.

there have been a few persistent winners in keeping this stock alive over the years. sure, some traders make money in the pump and dumps, but really it is nothing more than a casino stock.