regarding JORC, 95% of the gold in these high grade nuggety deposits is found in 5% of the ore. that was established at the Wattle Gully mine. check CGT's work on it
GBM was lucky to hit one of those 5% zones ( bonanza lode)early on. I assume the have at least 5000 tonnes ( maybe 10,000) at around one ounce per tonne which will deliver them a handsome profit
Looking at the success CGT are having, if GBM geo's are as good as CGT geo's they should be able to hit some more bonanza zones. The issue is the development cost to access them. Still the profit margin on bonanza lodes are very high
I think within 6 months we will see a rerating to around 30c to 40c. We need exploration success to really get moving
GBM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
