The critical issues will be the company's ability to clearly and concisely explain: - the funding relative to the disposable value of assets acquired, rather than their written down value, and also the extent of those assets; not just kaolin deposits and plant but easily disposable surplus plant, airstrip, jetty that can be upgraded to a port, [these last two being highly relevant to adjacent bauxite projects] and tantalum content [the myopic control freak Sth African lawyer at ASX Brisbane being an obstacle in drawing the market's attention to this]! - the initial and long-term potential for realisation of value from asset sales and projects within the project.
This comes down to the thought about content and quality of presentation for the announcement[s]. At least when Reveleigh was there there was a team able to insist on rewriting announcements; one would hope that current management won't repeat their shocker announcing the agreement to purchase Skardon River and its appalling timimg.
My understanding is that Victor Wu is increasingly the key player at GLM although Remta remains engaged on issues to do with limiting the extent of Reveleigh's long-term damage. Obviously Remta wishes to see funds avaliable to advance the WA Au prospect but its disappointing the extent to which assets in Cairns were not secured and the opportunity to gain understanding of what went on a Nowa Nowa, and therefore its potential, has not been pursued.
Re GRM: on 1st pass GRY comes to mind; hopefully GRM won't drag their feet on followup drilling as happened with GRY...
GLM Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
