Yeah, I own GOA. I hav serious tent-in-pants over the Croydon project. Yamarna, not so sure. Its in PNG and the Papuans have been getting a bit silly with shaking trees to see what falls out viz. companies not pulling their weight. both GOA and FNT have had a bit of admin trouble with the Papuans recently. So I will see GOA's ounces when I see them. But don't get me wrong, its a fantastic, thick shear zone.
I am a geo by trade, and I've spent enough of other people's money chasing close to surface ore to know that this turkey-shoot in the Olympic Domain is based entirely on BS in the main. The model is simple, as simple as the criteria used to site drill-holes; gravity anomaly, magnetic anomaly on the flank, drill.
The problem I have with the IOCGU explorers in S.A. is the depth at when they are exploring - argonaut (650m depth), copper range (+450m), monax (+500?), gunson (+650m), Venture Minerals (~800?), and Teck (1Km @ Carapateena). When you find these IOCGU's, you are rich, rich as Nazi's. But a 600m diamond hole is $150K a pop, if you don't assay the core, and it doesn't take you long to churn a million bucks on holes that deep, so the risk/reward curve is very much ragged edge.
And then...GOA sneaks in and plugs TWO systems in a row with 150m of dirt atop them...and because it's not South Australia, we molder. But never fear - people who are in the know in the geology community are waking up and taking note.
Note, that I'm not sure - as no one is yet - where these things will go. A2 is zinc-tin, and an oddity and needs better grades, or just megatonnes before it will work. A1 has copper, but we gdon't know how much. But in terms of where I'd rather be, as a geo, it is at Croydon facing a 150m drill depth for my 36 remaining mag anomalies, than at Punt Hill or the Olympic Domain sucking up 300m and greater.
Lets hope that some nicer numbers turn up. This is exploration, and its a risky business...but like I said, tent in pants!
GOA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
