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GDA 10.0¢

going concern

  1. The Annual Report has a "going concern" statement attached. There is $1 million left in the till. Looking at all of properties under review and drilling campaigns planned, the money in the kitty will go how far?? My understanding of the original business plan was that we would be looking at producing gold ore for processing in mid 2004. The chances of this occuring in the next twelve weeks look dim (or dimmer/dimmest).

    The stock has been dumped, dumped and dumped and is now at .09 cents (in the face of a strong, rising gold market). Assume that this means that the directors will need to make another issue in the next three?? six months?? Someone might want to call management and ask. If they need to go this route then 250,000,000 shares at .08 cents raises another $2 million (if they can get .08 cents). Another way to do this is to reverse split the existing 465,000,000 shares. If the did ten to one then you have 46.5 million new shares.



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