ifandwhenwatso was having a stab in the dark - but the half...

ifandwhen

watso was having a stab in the dark - but the half million dollars, included 30 drill holes. allow $10,000 per 100m hole (including sundry costs). in the distant past, there already was access to the area (previous holes had been drilled) .

access, is mostly nothing more, than clearing a bit of scrub (mostly spinifex),for a track, and clearing drill pad locations.

nam11

sorry - but the gold prospects are worthless. a few months ago, some poster did some rough calculations, which seemed to be pretty accurate.

as a stand alone operation, there simply are not enough resources to justify anything - ok maybe a heap leach operation - but the company would have to issue another billion shares for capital blah blah . indeed, there are plenty of other stocks, with more resources, and more cash than gda - who also have a low market capitalization..

anyway, in the area where gda are with their gold prospects - the following is relevant

1. sbm have a mill in the area, and that will close down in august 2012. once a mill is closed down, then it costs a bit extra to open again. if gda have something worth mining, then they should be doing a deal with sxg - and in a hurry - because it takes time to lodge a mining permit etc etc. watso has no idea, what the status of the gda tenements are - except to say, that it is a bit more than to find something, and dig it out, and send it to a mill.

2. sxg are dreaming about building a mill, which will be north of southern cross - but some of the feed will come from deposits in the area (the so called southern deposits, which are battler, and British hill) , where gda have interests. the sxg preliminary studies indicate that 31,000 oz (and the resource is 143,000 oz) will come from the southern deposits.

poor old watso is not too smart, but if sxg are planning on mining 31,000 oz (the high grade stuff), then they have to remove a lot of waste, which will expose lower grade ore - and that ore, would be a prime candidate for the sbm mill - indeed, all of the southern deposits should go through the sbm mill - but there is no deal - and if sxg cannot do a deal, then gda will not do a deal.

rip gda. the eulogies will be full of ex shareholders, who will worship the company for the tax deduction that they received.