Not a regular poster, but have some history with this Co.
Had big plans pre GFC with copper in NT, then gold in QLD, then iron ore (Nowa Nowa). Lots of investors money dumped in chasing the "next big thing" whilst paying multi x $100,000's to a MD that didn't deliver and IMHO drilled in areas that were not hot targets....share holders have paid the price. Poor management.
He has now been removed and replaced with Peter Remta (who is non-ex Chairman with Brighton Mining (listed Nov 2011 - not cross promoting here). Since his involvement share price has risen from lows.
We now await an ann - time will tell. On history, you would not touch this with the proverbial barge pole, but with new management at helm with success to date (albeit only a short time frame) in another mining venture - may go north.
Hope this helps a little bit.
Cheers K
GLM Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
