I returned home from Australia last night and woke up to this...

I returned home from Australia last night and woke up to this announcement this morning.

Those who have recently received my DCF Valuation for Goldstar will see that I have a forecast of 2.55mt for the high grade quartz reefs at Tubal Cain. So, am I happy...I am ecstatic.

What a fantastic result. Is the sky falling or are we soaring. We can, as good as touch the blue sky!.

Not 8 reefs like Eureka. Not 15 reefs as per the previous Tubal Cain Geological Model...BUT, 27 of the darn things. You could get a closer comparison to the old Moringstar Dyke. But, it wouldn't surprise me if, in time, Tubal Cain was proven to be even bigger. AK says " the mineralisation remains open at depth and with the distinct possibility of reef repetition continuing below the drilling levels to date."

I loved the part of the announcement that said..."No estimate has yet been completed for the surrounding mineralised dyke and sediments." It wouldn't surprise me if this turned out to be another 5mt for approx 1moz Au.

Looks like we are in for a period of steady news flow...

1. diamond drilling is continuing at TC
2. GDR is accelerating preparations to commence bulk sampling at TC
3. further assays are awaited.

With the gold price expected strengthen through 2007, GDR is an investment to sit on and hold tight. The institutional buyers will be waking up to this one and will have to pay a pretty penny for our tightly held shares.

Enjoy!