warning, page-7

watso was alluding to NikNi's points the other day, when he gave a bit of history about the share consolidations over the years. there have been three consolidations in the last 9 years, which ended up in a massive dilution - everytime accompanied by a capital raising, another project etc etc. at about the year 2000, gda had done a consolidation, and ended up with less than 10 million shares on issue. by the time of the next consolidation, this had blown out to ONE BILLION shares - and watso cannot even count that high, so he does not even know how many shares that might be, but it probably is a lot - anyway, that needed another consolidation - and now there is another consolidation.

of course, as has been pointed out, this does not affect the samples that are going to be assayed - and if they turn up trumps, then good luck to all of those that are in the stock

watso has just had a quick look at the capital structure, and it seems that there would now be 480million shares on issue and another 180m options which are "in the money" - giving a fully diluted market cap of $33m - mmmm seems a tad on the high side. then there is supposed to be bonus issues etc etc and then a consolidation

just a point of caution - but to find BIF's (banded iron formations on a tenement, is not remotely surprising, as it is a very common rock sequence through out the goldfields - and indeed, it is intimately associated with many gold deposits. cazaly are earning an 80% interest on some tenements, for the expenditure of a miserable $1m over a few years, which is not really a farm out of any great note, which might be a bit of a reflection of the commercial prospectivity of the project

only a couple of weeks ago, a rights issue was massively undersubscribed - and that was at an issue price of 1.2c, with a free option. two weeks later, there is nothing new, and the market cap has gone ballistic

at this stage, the parker range gold prospect, is really at the grass roots level, and nothing to get excited by. indeed, from watso's reading the 11,000 samples are nothing more than soil samples, and there is not one chance in a million that will result in any indication of a orebody - it is nothing more than an exploration tool which might be used to identify areas of interest, as it is only drilling which will define an orebody.

as far as the uranium prospect is concerned - well, to date, it is just like any other grass roots uranium prospect

what, and this has a market cap of $33m dollars!!!!!! - mmmm only for the brave, but good luck to them if it turns into something more substantial