The shares would need to go into the 12c range. They have been...

The shares would need to go into the 12c range. They have been as high as 30c + which doesn't look likely until other projects they have get closer to BFS.
The most likely being the high grade iron ore in the East Pilbara or the gold at Parker Range.
GDA has 2,377,040 Cazaly shares which were issued at a 27.5c value according to the CAZ 3B announcement on the 7 sep 09.
The Cazaly shareholding should realize further value for GDA, they expect iron ore production in 2011 according to the CAZ announcement this morning. The spot price of iron ore going up $30 from $100 to $130 helps a lot.
In addition to the iron ore in the Pilbara,movements in the CAZ share price and the Parker Range gold projects, GDA's Nickel, Molybdenum, Copper and Uranium projects each have some potential to spike the share price when announcements come out as we have seen since GDA moved up from the 1c levels.