The team of analysts at watso corporate, sacrificed their weekend (yes, the "watso corporate" box, at the afl grand final was empty), so that they could go through the gda 's friday announcements, report with a fine tooth comb.
The overwhelming consensus , was that , as per the appendix 3b announcement, the company probably did raise about $250,000 before costs, by way of a placement. Of deep concern, was why a shareholder would convert 9200 12c options - when at the time, he could probably have bought 100,000 shares, on the market for the same amount of money. gda certainly has a bright future, if there are more like minded shareholders.
gda, have probably, almost, reached the limit of their ability to place shares , under the 15% rule. The company was authorized to place 100m shares, and under the 15% rule, the company has placed another 67m shares.
most of the funds, from the recent placement, has probably already been used, one way or the other - and the next major capital raising will have to be a prospectus issue.
oh - there was a gold exploration update, released the same day, as the appendix 3b. Not one analyst thought that it was worth commenting on.
for those looking for an exciting tax loss postition, for this financial year, then the stock is an outstanding buy at 1.5c. an even bigger tax loss, will be available to the canny investor, who snapped up the shares at 1.9c
GDA Price at posting:
1.4¢ Sentiment: Sell Disclosure: Not Held
