By all reasonable expectations GDA should be worth a punt, based on the market cap and the likelihood of royalties (or a lump-sum payment to buy the royalty) in the medium term. If you take a rosy view of the long-term iron ore price and/or a similarly rosy view of Atlas getting a rail deal from Twiggy or Gina, then Corunna is a good bet to be mined.
But.... Gondwana is a lifestyle company. I don't believe they intend to do anything useful to generate shareholder value. They lucked onto this piece of ground but then weren't smart enough to realise its potential for direct-shipping iron ore. The gold show is small and not going anywhere in the current market. Basically, they stink. The Chairman and MD is the same person, which is generally frowned upon by ASIC, and it seems to be run as a one-man band. That's enough ranting from me. DYOR
GDA Price at posting:
5.3¢ Sentiment: None Disclosure: Not Held
