even if the company raised about $1m from the current issue,...

even if the company raised about $1m from the current issue, then those funds would do not much more, than to meet the current working capital deficit. the free option might tempt holders to contribute.

the company already has shareholder approval to issue a motza of shares (with free options) at 80% of the market price. Shareholders who put up .7c now, for a new issue, will probably have the the pleasure of seeing other investors taking up shares at .56c (80% of .7c) .

why does it take so long to drill a few holes at corunna downs????.. this is a joke - from the last quarterly

"Magnetite iron exploration over the past 3 years has shown extensive surface iron mineralisation"

the company has been frigging around for 3 years - and

"Commitment to drill test the mapped magnetite-rich BIF outcrop area in E45/2585 has been deferred until later in 2011 pending review and surface exploration of both new tenements"
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even if the company does some drilling, then that will have meant a 4 year wait!!!!!!!!!!!!!!!!!!!!!!!.

just a rough question - but in the past 10 years, has the company done any drilling, at any prospect, apart from parker range??????.

from memory, the gda parker range gold tenements was some deal with "sons of gwalia" (who used to own the sbm mill, and surrounding tenements) - where gda spent the money, and sbm (who bought the sons of gwalia business) , could buy back in. the time frame of that deal has expired - but the reality, is that gda picked up the ground that "sons of gwalia" did not want.

gda will never (as an owner operator) mine any of the gold at parker range. one way or the other, any gold that gda have, will go through the sbm mill. the same will be for the sxg deposit, in the area