I just had a look at GEGM and there are some big experienced exploration backers behind that company.
For them to purchase Big Rush for about $260k and also pay for the clean-up estimated by the Queensland Mines department at about $4.2 mio it appears peanuts for them. The income that can be derived from the heap leach pads and follow-up drilling below after the good grades GNM initiated from previous drilling suggests they believe after due diligence it is worth the risk to buy.
Now if they have some financial firepower and can get some drilling rigs in there and find that gold resource below that Simon Coxhell's analysis suggested was there don't you think that may benefit GNM. They may wish to buy more exploration acreage from GNM or even farm in and provide drill rigs with GNM to free carried.
But do your own research on the team of Great Eastern Gold mines and make up your own investment mind of what this may lead too.
First things first, let's see if they consummate the transaction next month and then get going over time on a follow-up exploration campaign of Big Rush to prove up the resource Simon's work suggested is there down below.
- Forums
- ASX - By Stock
- GNM
- Ann: Big Rush sale moving to completion
Ann: Big Rush sale moving to completion, page-4
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GNM (ASX) to my watchlist
|
|||||
Last
1.4¢ |
Change
0.001(7.69%) |
Mkt cap ! $2.010M |
Open | High | Low | Value | Volume |
1.3¢ | 1.4¢ | 1.3¢ | $5.402K | 390.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 449850 | 1.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.4¢ | 127527 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 449850 | 0.013 |
1 | 128897 | 0.012 |
5 | 699392 | 0.011 |
7 | 1779995 | 0.010 |
4 | 1033429 | 0.009 |
Price($) | Vol. | No. |
---|---|---|
0.014 | 127527 | 2 |
0.015 | 182565 | 3 |
0.019 | 210000 | 1 |
0.020 | 26667 | 1 |
0.023 | 480399 | 2 |
Last trade - 10.53am 23/08/2024 (20 minute delay) ? |
Featured News
GNM (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
Previous Video
Next Video
SPONSORED BY The Market Online