I think the announcements is positive in the sense that it gives GMD more ozs and more critical mass to develop their own stand alone operation (which they have stated is now their intention).
The price paid is reasonable (414k oz resource for $13.5 million or just $33 per resource oz) and importantly the ground is next to Ulysses and very prospective so hopefully they can boost resources towards 2 million oz with further drilling.
Whilst the strategy is disappointing for those of us that would prefer a quick win via takeover or rapid mine development, it is logical and I believe that shareholders with the patience to hold on will be rewarded in due course.
GLTA & DYOR
I think the announcements is positive in the sense that it gives...
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Last
$1.90 |
Change
0.015(0.80%) |
Mkt cap ! $2.126B | |||
| Open | High | Low | Value | Volume |
| $1.87 | $1.90 | $1.86 | $4.830M | 2.571M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 62411 | $1.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.90 | 89938 | 7 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| GMD (ASX) Chart |