great aust, page-9

I am interested to see the quarterly because I am interested in the detailed fundamentals of this stock, but I don't believe the next quarterly is going to move the price. What I am interested to see in the next quarterly is the following:

- hopefully Vertigo production and interest income means we are still generating additional cash (in this regard, I expect our exploration costs to be low for the quarter given the facts drilling at Canteen and Mt Colin only began at the end of the quarter)

- calculation of our Great Australia royalty (which should be paid in the current quarter), which hopefully should be in the $3m to $4m range.

None of this will move the stock though. It just provides further comfort that there is little downside in the stock price due to our steadily increasing cash-backing and the ever increasing threat of a buy-back. For some reason, the market refuses to price this in.

What I think will move the stock is the following:

- an announcement that we have acquired a gold asset close to production for a good price. Whilst I have always thought acquisitions on their own should not move a stock unless they are done at a good price, it amazes me how much the market values replacing cash with assets expected to produce income. So this will be a bigger catalyst than it probably should be.

- any good results from Tier 1 targets. The market doesn;t seem to care about Tier 2 targets, presumably because it doesn't think they are able to be monetised.

- any sales of Tier 2 targets to Xstrata or CopperChem

Any of the above could happen in the near-term, or perhaps medium-term, but the current stock price provides a free option to this upside.

The only other catalyst would be to have a CEO that can actually market the stock. I am starting to think that GL just doesn't have the ability as the story should really sell itself. Then again, probably no point wasting money on marketing until one of the catalysts above happens.