what a shame that gda sold their best asset for a song. watso's guess is that caz will sell a part of the project in return for funding. an equity in something like this, could have provided gda with a modest cash flow for a number of years.
Indeed, for newer holders in gda, they might not be aware, but gda used to own the lot (of parker range) - and unbelievably, when iron was hot hot hot (ie like molten iron), gda could not see the iron that was sticking out of the ground, but sold the prospect for a song. a miserable couple of hundred thousand in drilling would have established that the area had some potential. watso has to admit, that his initial thinking would be that resource would be too small, but more drilling proved that there was a modest tonnage, with low impurities - and importantly, close to infrastructure. well done to caz, to spot the opportunity
GDA Price at posting:
3.0¢ Sentiment: Sell Disclosure: Not Held
