By pure fluke I had sold down a little bit of my position from GBZ before the trading halt was announced, my reasoning at the time was concerns about the $10M loan from NFC (in particular the lack of certainty and doubts about NFC) so I am only left with a small holding in whatever the merged enentity will be, only a small amount of money now so have essentially just written this off/bottom draw-ed the remaining GBZ shares so will watch with interest but not expect anything too soon.
I know some of the people involved with the WCB Misima/Umuna Mineral Resource statement and look, there's no doubt the gold is there, the historical data is real and is of high quality and was done very competently, in fact their calculations are on the conservative side, and there is heaps of upside exploration potential but there is a reason that its still there in the ground, probably a combination of soverign risk, lack of exploration and difficulty of getting access that makes the Misima projects a long term bottom drawer proposition. Which is fine but I got into GBZ for the QLD gold projects around Mt Coolon and the merger with WCB and the shenanigans with NFC have only delayed further work and progress at Mt Coolon in my opinion.
