There are a number of very cheap nickel explorers on the market right now however IMO GBR is incredibly cheap with a market cap of about $5m, considering we have proven nickel sulphides, copper and cobalt at a number of quality properties in nickel rich areas, including Mt Venn, Eastern Mafic, Winchester (plus the new recently pegged adjacent ground), recent discovery at Tarmoola and will soon be on the ground at Mt Carlon.
I have just been doing some research on Legend (LEG) which has a market cap (12 X GBR) of $61m prior to their announcements of this week and from what I can see our grades are a lot better. LEG has the backing of IGO and Mark Creasy (which helps) and has just agreed to purchase 70% of new tenements from Mark Creasy for $12m. They have 2 billion shares and this week have agreed to issue more than 500m new shares to raise some cash (handy) and acquire the tenements, which should push their market cap out to more than $85m (15 x GBR).
Do your research and check out their grades compared to ours and see if you agree that GBR is outstanding value right now.
GBR Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
