I think the advantage of Ulysses over the other leases GMD holds is the fact that it is already a mining lease, you don't have to worry about the rigmarole of converting an E into a M and that in itself adds value to the block.
Converting exploration leases to mining leases and then getting the go ahead to mine is a lengthy process. GMD's only real option of securing cash flow at the moment is the continued mining at the Ulysses leases.
Get a good cash flow and spend your money wisely don't kill the goose that laid the golden egg, just reflect on all the juniors out there with "good projects" that have to go to the market cap in hand.
To me the fact that GMD doesn't have to do that is what sets them apart.
Ann: Appointment of Craig Bradshaw as Non-Executive Director, page-8
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Last
$2.30 |
Change
-0.020(0.86%) |
Mkt cap ! $2.595B | |||
| Open | High | Low | Value | Volume |
| $2.30 | $2.32 | $2.26 | $96.58M | 42.70M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 31308 | $2.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.31 | 101 | 2 |
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| GMD (ASX) Chart |