Thanks rae, I'm just going to sit this out hoping for an offtake...

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newo

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30/09/15

02:58

Post #: 16084390
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Originally posted by rae915 ↑

One would have to agree with you that an offtake agreement will be a 'bird in hand' and will alleviate people's wariness.
However, the people who are running this show are people with experience in how to make themselves quite rich. and / or
they have suitable experience with this very mine which they have basically brought to life.
GXY is paying a capped amount until the mine is producing early next year, and then the cashflow should begin.
Admiteddly the change inplan announced sometime ago where a full takeover of the mining operation's cashflow changed from 100% to 50% confused many .
This change in plan has been palmed off as a better deal for the future, and it may well be. But it was a dramatic change for many investors.
I don't like directors who look after themselves so well, and then pull a fast one on their shareholders...but then, what do you expect, they are working for themselves (NOT the shareholders....other than themselves)...so if you believe they will benefit out of this company, then one follows in their footsteps.
What we do know is that the mine is built.
And
We know that the management is competent and knowledgeable about this mine, and what is in the ground.

I feel certain that they never would have considered this proposition of theirs without being 100% certain they could get an off take agreement. I am sure they are looking for the best deal for themselves. And I am banking on that.

However, there have been a few other Lithium explorers popping up with potential mines, and this can only be because they see a future for Lithium. So this can be seen as a positive harbinger.

Personally I think the James Bay project , although a long ways off, is great for the long term investors, provided it gets off the ground. Cashflow is needed to do this....and the managers 1st tranche of options are already in the money, and the price of the stock did NOT fall seriously yesterday.

All other projects are further off production than GMM and this is the key factor for me. Those companies that want lithium now or soon, will engage GMM as a goer. We will see that off take agreement soon, and these people in charge are looking for the best deal for themselves.
my opinion

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Thanks rae, I'm just going to sit this out hoping for an offtake & rerate.

I'm working night shift, you are up late also?

GMM Price at posting: 9.6¢ Sentiment: Buy Disclosure: Held
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Thanks rae, I'm just going to sit this out hoping for an offtake...

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