& to think that gda used to have parker rang

- well, the iron ore

from a caz thread

Smith climbs to the top of Mt. Sinai to get close enough to talk to God. Looking up, he asks the Lord...'God, what does a million years mean to you?'


The Lord replies, 'A minute.'
Smith asks, 'And what does a million dollars mean to you?'


The Lord replies, 'A penny.'
'Smith asks, 'Can I have a penny?'
'The Lord replies, 'In a minute.'

mmmmm - watso better try again

damn it, got the same again, ok - another try (too complex to explain)

4mt pa @ $100/tonne
turnover $400 mill
cost @$45/t so $180 mill pa
leaves EBITA at $ $220 mill pa
TAX at 30% leaves $154 mill pa

.
.
gda still had about 15% of the parker range iron, before they sold it for a few shares in caz. gda farmed out a 80% equity in the project for a song (at a time, when iron was like molten steel - ie HOT HOT HOT).. a few hundred thousand dollars, spent on drilling would have confirmed previous , government geological surveys, the extent of the mineralization (ok - originally, the early drilling did nothing more, than confirm the low case scenario).

anyway - shareholders can keep the dream alive, and toss in a few dollars, so that the company can keep on searching for that pot of gold at the end of the rainbow. the iron at the end of the rainbow, at parker range, might be worth a lot more, than the gold at parker range