what a pathetic deal!!!
the royalty is worthless - as it can be purchased back at 20c per ton.
even if atlas do end up paying the $2m, then that would probably not even cover, what gda have spent on the tenements, over the years - considering that gda first held the ground about 7 or 8 years ago.
the current rent/expenditure commitments are about $330,000 - spread over the following exploration licenses
e45/2585 $31,000
e45/3320 $40,000
e45/3321 $43,000
e45/3322 $48,000
e45/3323 $50,000
e45/3324 $37,000
e45/3579 $15,000
e46/803 $65,000
total $329,000
the attached image, just shows the numbers for one year, for one exploration license (e46/803)
gda might not have the funds to develop the prospect (if anything were to be found), but in the past, they could have found half a million dollars, to build a track, as well as drill about 30 holes. if there was something there, then they would have been able to have done a better deal
what a pathetic deal!!!the royalty is worthless - as it can be...
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