some regular poster on the gda threads, always seems to find...

some regular poster on the gda threads, always seems to find another company announcment, and post it on the gda threads, and implies "wow - gda could have the same!!" watso was just scanning some reports and noticed that ago have reported a new discovery, and the shares were down.

ago are conducting a 140 hole drilling program, which watso would roughly estimate to cost about $6000 per hole - ie a program costing $840,000. throw in other costs, and that is a $1m program. gda is in the process of trying to raise about 3/4m dollars - but how much of that will end up being used for real exploration. watso would suggest very little. never say never, but who wants more iron ore these days. the few holes that gda might drill on their iron ore tenements will not make much difference at all. any funds raised in the issue would probably be best spent on the parker range gold tenements. not that watso holds them in high regards. keep in mind that watso only idly spends his time, on hc, making useless posts on the gda thread, and is no match for the likes of the geologists that gda are employing

having said that, the 15% equity in the iron ore joint venture at parker range, might not be so bad, if only caz could come up with a buyer. caz of course is the preferred buy in this venture