Recently purchased GMN with this one currently as my top holding.
There is alot to like here, with a number of different items that caught my attention with the potential for this stock to be the next white unicorn.
1.) The complete overhaul / change in Management and restructuring of the company going from a Goldmining company in Papau New Guinea to a Lithium company with tenanaments in one of the hottest regions in the world at a time when the world is screeming for lithium signals a huge pivot point for this company.
2.) At these current prices, as the original company strategy had been tumbling into a freefall, those who looking to buy in are essentially buying at the bottom. Can really only go one way from here.
3.) The current Director, Dave Evans looks solid and also is a Geologist which is a great advantage as he understands the main fundamentals and knows the required trajectory to drive the ship in the right direction to find the lithium. If there is lithium there, I'd be confident that with his expertise he will be able to in conjuntion with the Geologists on the project, identify and find the key lithium zones and fast.
4.) Dave is also the Director of Mars Mining Ltd which is a private lithium company with large strategically placed tenaments within the hottest locations in the Lithium Valley region. Dave through GMN is looking to purchase a 75% stake in a share of a package of 3921 square kilometres, making this company the largest Australian explorer with the biggest footprint within the region.
5.) The deal will also see GMN expand its current joint venture with Mars Mines to include a three-quarter stake in all of its new partners current holdings in the South American nation including 607square kms within Brazil's well known "Lithium Valley" home to some of the biggest lithium players.
6.) The purchase of the tenaments was for circa 600,000,000 GMN shares which are in escrow for 1 year minimum.
7.) Dave being the Director of Mars Mining would have a great understanding / knowledge of the region already and also with the tenamments. With his understanding / knowledge of the area it is great that the deal has been made to acquire the tenaments for GMN shares obviously he knows the potential ahead.
8.) GMN's tenaments are literally right on the door step of some huge major players. One being right next to LRS, another right near SLM and another close to Sigma. With the hype around LRS, SLM, SIGMA especially with stocks sky-rocketing from news of rock samples alone will not take much for this stock to launch very high very quickly.
9.) We currently have enough cash to see us through this next exploration phase and will be a while until the next CR will be needed.
10.) GMN - Market Cap = $12M LRS - Market Cap = $750M SLM - Market Cap = $60M (Off Rock chip samples alone) SIGMA - Market Cap = $4Billion Currently compared to surrounding peers and other lithium companies GMN is significantly cheap at its current market cap not to mention its huge tenament footprints within the hottest zones.
11.) There is the potential for other neighbouring companies to partner up / invest in the same way that LRS did with SLM especially given that we are on LRS's front door step.
12.) A lot of people would have made multiple bags/ would be looking to take profits from LRS and potentially even SLM and will be looking for the next best value play. GMN is the perfect stock to be reinvesting any profits into given the regions proven track record being tried and tested. Plus the attention being received from the other major players is drawing alot of attention to this region.
13.) All this company needs to do is have a wiff of lithium finds and this stock is off to the moon. With the largest footprint in the region would need to be pretty unlucky to not find anything in any of the many well placed tenaments.
14.) GMN currently have multiple Geologist on the ground as we speak working concurrently within a number of the high importance tenaments zones in which they are undertaking rock chip sampling, assays within multiple tenaments concurrently at the same time. This will provide alot of news flow very quickly to begin to be released.
This stock is a sleeping giant IMO and it's only a matter of time until others wake up and realise where this companies tenaments are located / the size / the huge potential here. With the size and number of the tenaments this could easily have the potential to become one of the biggest players in the region IMO.
This is all IMO though. DYOR and good luck to all holders.
GMN Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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