IMO,no surprises - just supports my personal view on the progress of this project, that by the end of this year we should see a turn-around and a re-rating in the share price as a result. GMEL management are delivering with comprehensive market updates as promised, as the project advances and I'm confident this will continue with John Mair now at the helm.
"GMEL moves forward in 2015 with the aim of achieving major milestones, while implementing a tighter and more efficient budget. Much of expenditure associated with the feasibility study was incurred in 2014, and major technical programs in 2015 funded through the EURARE program. The Company has also looked to reduce both administrative and staffing costs, and the drafting of feasibility, EIA and SIA documents is managed in‐house. GMEL had a cash position of $5.569M at December 31st, 2014. To ensure the company is appropriately funded to achieve on objectives, GMEL has secured a facility with Hong Kong‐based investment group, Long State Investment Limited (‘Long State’)."
GGG Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
