hopeless case, page-6

Hi Grant
GTM had a deal on the table but a better one has come along and subsequently the current one I believe is better again for existing holders and the longer term viability of GTM. With a better company with a longer view GTM may survive with it's shareholders having and opportunity to finally see some of the ground properly drilled.

As much as I bag GTM management who have got the communication ability less than my 6 month old they may have actually in a round about way got a significantly better deal than the first outrageously crap dillutive one they nearly jumped on. They should have done this 12 months ago and a whole lot more exploration but all that is history and management mistakes.

These gallutes will be under a lot closer supervision by the finance provider keep a close eye on cash while the existing management can get on with actually mining what gold they have got left.

It is a discovery punt upon relisting. They will continue to mine for now but have a limited window in which to prove up some resource and reserves otherwise they will have no profitable feedstock for the mill and can't afford to keep staff on site while in endless shut down maintainance awaiting discovery and development.

If they don't come out with a big cash injection and if it is not all directed at exploration and lawyers settling Strata then we all should walk as supposed good ground and a mill are pretty much worthless. They need resource. No farmins or side deals alone will keep GTM alive unless they become the new nuclear waste depository. Stark contrast to the suppository they have given me.

Any respect for GTM? - None at all now!! They have made poor decisions and I'm just trying to recover anything sensible from relisting and make the best from a major losing trade. Dependant on final strategy and relisting price I will decide if I give them any time before exiting and the slightest change from their stated direction will see me just tip em out.