Minimum expenditure for Western Australia totals $497,675 once the large tenements at Laverton are granted. I'm just waiting on some info from Queensland tenement managers on the Queensland tenement, but it's worth noting their footprint in QLD is greater than WA. Almost makes you wonder why they're based in WA.
But a few facts to keep you interested: (1) GSN's cash burn is around about $3.8 to 4.0 million a year; (2) To raise their current cash burn at their current share price GSN have to issue about 100 million shares a year once fees are included. Happy dilution.
I've been pondering just why Regis dropped Golden Star after acquisition from Duketon. I'm wondering if its because Golden Star is refractory ore and so untreatable without a roaster but there's no info on this. I'd be interested to know if any GSN holders have a theory on why this flagship open-in-all-directions little cash-cow was dropped by a company with a hungry mill in the area. Some early metallurgical work might be a good idea.
GSN Price at posting:
5.6¢ Sentiment: None Disclosure: Not Held
