Goldendream, There is no doubt that the current market conditions contribute to GDW's woes. When the markets are strong anyone can float a company and thrive. Even Mom and Pop teams. However these are the times when we must pull out a bigger microscope while doing our ongoing due diligence and begin to rate these companies. The "Good" will not only survive but florish as they gobble up the assets of the weak. Their share price may not reflect it until the markets recover but we the investor should be accumulating the bargins in this cycle.
The flip side is that the Bad advance rapidly into the Ugly. IMO we are there now with GDW. However I, like you, hope Hermann can pull off a small miracle. Miracles and hail Mary passes are not usualy part of my investment strategy but if I wasn't risk tolerant I would not be buying venture stocks.
IMO, GDW is in desperate need for funds and competant management in order to advance and this is a tough climate to attract either. Which brings us back to the Good. Does GDW have a big enough carrot to attract such a creature. I believe that with Mt Anderson it has.
The ability to sell this project to the market, the investment community, or the White Knights lies in where GDW's management is rated Good, Bad, or Ugly. You have to be Very Good to sell in a buyers market. This may call for a plan B