I doubt Talbot is giving up on anything. Nothing has changed for GMX and this years exploration drilling has commenced recently with more geologists now employed than ever before, more prospective areas to explore and enough cash to last for several years.
He is probably making a play for more control, if not a boardroom takeover, as announcements I have read shows him adding to his holdings at the lower trading levels and now holding 20% plus of the GMX.
However, we shall see in due course but my reading of this so far from the one announcement is positive. In my opinion he going for more of the action by getting rid of any resistance and giving himself leverage to a larger cut of the possible rewards when drilling results are released.
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