GDN 0.00% 1.7¢ golden state resources limited

the truth

  1. 4,646 Posts.
    They had an asset which they probably would never develop.
    This asset had ongoing costs to the company and shareholders, of which few of you are.
    They are an oil/gas explorer in Utah.
    "Over the past few years, Golden State has focused on its US oil and gas interests, the Golden Eagle field in Utah. The company has retained a number of mineral tenements in the Western Australia. These Tenements are subject to exploration and recurring rental outgoings.'
    They have stopped this outflow of capitol by selling them to a company which WILL exlore those tenements.
    We RETAIN 2.5mill shares in this company and will have no further costs to pay, and GDN shareholders will have an opportunity to buy in to the venture if they wish, and I am assuming at a discount to the market.
    I would have thought this was an astute decision.
    It is as simple as that.
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