GBZ 25.0% 1.0¢ gbm resources limited

Ann: Cloncurry Project - Drilling to Commence at Mt Margaret, page-5

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  1. 1,189 Posts.
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    Could be a dark horse given 45% JV with Nippon who will do the leg work.

    Well it won't be a dark horse for we shareholders unfortunately. You do realise that if anything worthwhile is discovered, NIPPON MINING will take 90%, leaving us with a paltry 10%. Of course, 10% of something is better than 45% of nothing, but you'd be foolish to buy into GBZ based on a belief that a discovery at Mt Margaret will be our saviour.

    Our JV partners are strong I must say, Nippon and Newcrest not small time punters, they have the capital to really undercover the respective grounds.

    Agreed. Can't complain about our partners. We need their deep pockets. Let's hope the drill hits something worthwhile.


 
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