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  • 3 weeks later...

Thought I would have the honour of the first post :P

 

GMM lists today at 1pm - I picked up a few in the IPO.

 

A brief outline of their prospects picked up from the prospectus and talking to the company:

 

Their portfolio was put together by same guys who floated Galaxy (GXY) - $0.20 to $1.70

following their success in lithium (growth from hybrid car battery demand).

 

- Main project in Mongolia prospective for potash (high value/high demand product

used in agriculture) and lithium

 

- First mover advantage in Mongolia. Due to lack of interest in Mongolia (until now)

they were able to peg some of the best available ground. Also have obtained

a 100Gb geological database off the back of a truck covering most of Mongolia left

behind by the Russians when they vacated the country en-masse in 1990 and

will hopefully generate plenty of good projects when they get around to reading it all.

 

- Shoemaker project (WA) has numerous high grade hematite (Fe) samples and also

potential for nickel, gold and uranium. Never been drilled. Rio looking for iron ore on

same Frere formation to the north. They also have a dirty great big meteorite

impact crater (like 15 km across) which are often major mineralising events.

 

- Eyre project (WA) is a big bullseye geophysical target that can be drilled or killed

quickly. Teck Cominco next door reckon the region is an Olympic Dam lookalike.

 

- Lithium alliance with Galaxy whereby GMM find lithium projects and they free-carry

them through to BFS. GXY shareholders had priority in the IPO.

 

Good luck to all holders.

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An interesting first two days trading. I went into the IPO as I'd never done one before - got what I expected I guess - a small loss on opening. Given the way the spec stocks have all been going down in December it hasnt done too bad so far. Helped I am sure by one of the directors buying 250,000 shares on market. Well done sir!
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  • 1 year later...
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From Arties post in February to Now....things have not really changed much, except that the deal is not 100% for GMM but 50% plus a share of the Canadian Lithium project at James Bay . There are other details too.

James Bay is not easy to get too if my geography is correct ....few roads. So fly in sort of stuff. And maybe in the winter snow/ice roads can be ploughed thru. That is in the future....when the money from the Australian mine brings about cash for further progress. There are, of course, many Lithium hopefuls now....and the future is certainly....not a certainty for James Bay.

STill...GMM should be at a higher price come 2016 ....But you're right Fotios is no dummy. Got himself 6 million shares for .008cts each.

 

Merc

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  • 1 month later...

Canaccord published an assessment of both GMM and GXY, giving them price targets of 40 and 16c, respectively.

Of course, Canaccord also organised some capital raising for them ...

http://www.asx.com.au/asx/statistics/displ...;idsId=01697248

 

Current resistance is sitting at 22c; until that is broken, I'll only trade swings with tight stops.

 

post-20537-1450754442_thumb.png

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Low volume trading (and only a couple days before Xmas at that).....but the SP has made a move that would NORMALLY be of interest...but the low volume is a concern. Having had two recent CR's it is not likely to have another soon (if ever) but the desire to taek profit and even free carry for some, may be high enough to subdue the SP . There will be a lot of persons who will score big as this company moves forward. the promise of quick production, (and the phantom of James Bay beckoning)...may be enough to propel this stock to higher levels in quicksmart time.

 

Having looked at the SP and its breakout, one would have to think that people are in no hurry to sell........it isn't like there is a iceberg of sellers .....

 

 

 

 

GXY has a lower price target....yet it has more irons in the fire (at present) than GMM. The possibility that its brine production could move ahead sooner than later is something that will have lithium price watchers considering. Should any news come out about early production or a buyer for future production, and I would expect that the 16 ct target price might be right fairly quickly...and perhaps even beyond. The number of shares out there does not make that easy....yet considering the volume traded recently, and some investors names bandied about, it could be a tug of war between those who have great expectations and those who think GXY has risen too far too fast.

 

The men behind GMM are certainly confident in their company.....and their recent CR was just enough and no more to get their production rolling. They don't want to dilute their holdings any more than necessary...as they have their sights set on the future , rather than just their director and management pay cheques....

 

 

 

 

Welll. that is my opinion....

 

 

 

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