GDN 0.00% 1.7¢ golden state resources limited


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    [Dow Jones] After running yesterday to A$1.25, highest level since early 2000, a
    near fourfold gain from Oct. 23, stellar performer Golden State Resources (GDN.AU) eases,
    last down 2.5% at A$1.17 on ongoing heavy trading of 8.2 million shares. Investors
    focussed on drilling reports from Paradox-1 well, Utah, which continues to turn up
    elevated gas shows, which GDN regards as highly significant, as it nears Leadville
    Limestone primary objective, likely to be reached on weekend. This formation interpreted
    to contain up to 3 trillion cubic feet of gas - confirmation of which would send GDN
    towards stratosphere. Unlike Australia, this won't be stranded gas, with
    energy-hungry U.S. potentially providing huge profits. A tense weekend ahead for some
    investors. (RCB)
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Currently unlisted public company.

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