I personally think the U spin off is well worth it. While the grades currently being reported are modest, people are forgetting that this is only 1 of the prospective tenements. The results were for the earth that White Canyon brought to the JV, GDN's Thompson project is still a great unknown and at the very least should double the White Canyon reserves. Otherwise what interest would White Canyon have in the partnership?
On top of that you must take into account that by the time it lists, of all the specy U players on the ASX this should be the first to actually produce!!! They are in a uranium friendly jurisdiction and close to market.
The Shumway Brothers (White Canyon) believe that the GDN tenements have something big to offer and these guys should know. The have U mining history dating back generations and are currently on the people mining the stuff in Utah to my knowledge.
Just my opinion, many may disagree.
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
