Bluequartz I agree that a company cannot run just on luck, or to put it another way, "wild catting." GTE are not doing this, or relying on that sort of luck. Exploration companies do their homework, map out a drilling strategy to test pre determined targets in order to enhance their chances of hitting it. It is at this final step that luck regularly kicks in. You may well be in the right spot but the drill misses the sweet spot by a whisker. Stories to this effect abound. e.g. Monty. First up missed by a few meters. The next crew (diff company) with luck on their side, hit it within a stones throw in the other direction. You tend to create your own luck ( "the harder I work, the luckier I get"), but this may not necessarily get you there: flukes along the way can make all the difference, particularly in a game as risky as mineral exploration.
It is quite understandable that you are questioning, by requesting an audit, as to why GTE, after trumpeting highly promising new prospects, have sofar only come up with, as far as the market is concerned, dud after dud. You have also alluded to the possibility of dysfunctional decision making at board level. With such drawn out and repeated failures, this is not an unreasonable suspicion. On the other hand, you have tried to be positive by offering constructive advice, which may make a difference, but the fact remains, that you, with limited inside knowledge, are still only on the outside. There is only one way forward. GTE has to come up with the goods before they run out of dough. Is the board up to it? They have to be. Period.
GTE Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
