I thought it was an excellent presentation. What I liked about it was how it highlighted the strength of the investment proposition.
- GBE are in supply-constrained and strategically important metals - GBE highlight how they are trading around their cash backing, and so the current share price does not accord GBE hardly any EV. - A suite of projects, at various stages. - Kanyika NPV of US300m. Just Kanyika.
- And GBE highlight that, as the DFS is completed, the true value of having ECE on board will become apparent. (And, the reference to Mr Yi Shao, who is the Director General of the massive ECE company, underlines just how important GBE is to ECE - this is like a junior developer having Marius Kloppers on the board.)
Access to capital is THE key problem facing juniors. But not for GBE. Retail shareholders are unlikely to be diluted when capital for Kanyika is raised, because the FIRB will prevent that. Which means the capital will have to be in the form of debt finance and/or related to future supply from China. Now, how many juniors are in such a strong position? GBE's future, for those who understand it, is laid out in front of them...
Good job Mark Sumich and Team.
Yaq
GBE Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
