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On first glance (haven't read full report) at the GDR announcement, I believe it is the best result/announcement that GDR has issued.

 

Seems like things are moving along very nicely towards production and this announcement should get the sp moving in the right direction.

 

focus

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Current market capitalisation = $35m

 

They need $35m for mine development and plant plus $10m (??) for working capital and exploration. That is one hell of a lot of dilution.

 

Cannot see Bank Financing forth-coming at attractive terms with the current low market cap.

 

Also, thought the low JORC numbers unimpressive.

 

Sorry http://www.sharescene.com/html/emoticons/sadsmiley02.gif

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In reply to: neuchatel on Friday 14/03/08 10:16am

Looks like you are right GDR is not attractive even with the price of gold at record levels.

 

I have had this in the drawer for long enough, need a price rise and I'm out - but unfortunately the price rise has to be significant so I guess I will hold for till it is worth zilch.

 

Not enough info has come out on a regular basis from GDR - very disappointing

 

 

focus

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In reply to: focus on Tuesday 18/03/08 01:28pm

Woof woof http://www.sharescene.com/html/emoticons/blink.gif

 

At next support level today(20c) although in current market support is washed away easily,...next levels at 15c then 10c then,....

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In reply to: focus on Tuesday 18/03/08 03:02pm

The fall in GDR share price may prompt andrew king to release more information to the market to let us know what in the heck is going on in this company.

 

I was so disgusted with the price that i bought more.

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A grab from today's AGE.

 

http://business.theage.com.au/markets-surg...80319-20ij.html

 

Speaking at a company briefing in Melbourne yesterday, Goldstar Resources managing director Andrew King said he was optimistic the company could be producing by late next year.

 

Goldstar has accelerated its original schedule and hopes to start mining the "company maker" project Tubal Cain soon after the smaller Eureka project.

 

The shares were trading at 21ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ yesterday. Tolhurst analyst Cathy Moises has a 12-month target price of 40ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ on the stock and rates it a high-risk "buy". Tolhurst underwrote Goldstar's $3 million share purchase plan in late 2006.

 

Vanessa Burrow

March 20, 2008

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This is now a bigger project which will produce more ounces sooner.

 

Once you get over the initial disappointment that Eureka will not be the first mine to start producing as we were all expecting, and you then look closely at the new numbers combining a Eureka/TC strategy with a new plant on site @ TC, the conclusion to be reached is that the story has only gotten better..

 

The penny hasn't dropped for a lot of people, and it's easy to look at the GDR shareprice and read a lot of doom and gloom, however big picture wise, Goldstar has in fact strengthened its position from its PFS numbers.

 

They have 3 rigs drilling out TC with a fourth soon to arrive literally working 24/7.

Inferred resource to 500 m by June qtr and an indicated resource to 300m by the end of 08.

By early 09 they will have a solid JORC compliant resource enough to get them started and begin mining via a two pronged approach for added reliability and peace of mind.

 

AK is thinking long term, sustainable, and increasing AU production, and has chosen the right strategy to achieve this.

 

Cheers,

max.

 

 

 

 

 

 

 

 

 

 

 

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