Personally, I've been adding at 1.7, 1.8 and even 1.9.
SPP is welcome news and I'll apply for the full entitlement. One thing I've learned with the spec side is to always back those with a proven record of success. In this aspect, Peter Langworthy and Kerry Harmanis have an impeccable record of success. They've both worked together on projects since 2003.
Peter envisions a large gold deposit forming here, similar to Red King of the Hills (4moz) or Goldfields Ltd Granny Smith (2moz). Kerry has backed him the entire way (holds 10%) and has taken another $1m in the placement.
The $7.5m raised will go a long way to proving up the deposit Peter envisions -- there will be no further dilution while there will be strong news flow with the aggressive drilling campaign Peter is undertaking at Gidgee. This is good news with a market clearly focused on Gold stocks.
Don't forget RXL raised 12.7m (including SPP) to further their Younami project and look at the market cap now.
Look forward to assays from the drilling currently being undertaken at Gidgee.
GML Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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