Its phenominal the amount of posts of late which were condeming the lack of pr the gmm board have not completed of late in regards to our drill bit at shoemaker- there was the suspicious bunch which were signalling a possible delay in drilling due to no announcements to the asx regards drilling preparations since our quartely report -
What i find quite ammusing is that the GMM board have been able to meet their deadline ( which is extremly rare these days in the mineral exploration industry, as majority of drilling is completed by third party drilling contractors- not to mention whether conditions which have an imapct of delaying drilling proceedings)and yet only one poster has posted on this thread regarding the announcement received at 1pm- Many were amongst the conspiracy that drilling may be delayed on the back of no announcements, yet when GMM have been able to show their commitment in meeting their deadline to start drilling at one of our lucrative mining tenements, not a peep from anyone -
Personally GMM, thanks and congratulations on making substantial progress in getting along with business and starting the drill bit at our shoemaker project. As obvious as it may seem, mr market is more focused on GMM for its ability to drill out our UVS Potash discovery and making a sizeable find there- not to mention seizing new mongolion key assets- but as I and many have said before on this thread- dont write GMM's other tenements as minute exploration activities until our mongolion assets begin to drill -
Previous drilling results from our shoemaker prospect, not to mention the numerous success by others in the Earaheedy Basin should highlight how lucrative this project could become for General Mining Corporation as a revenue starter until the real excitment takes centre stage in Mongolia - Mr Market obviously wasnt too bothered by the announcement today with very little volume continuing into afternoon trading after the announcement- but rest assured that its definantly not a sign to state that this isnt a potentially lucrative asset which could pay off quite handsomly for GMM-
I admit that I somewhat blindly bought into General Mining Corporation , predominantly on their key UVS Potash discovery in Mongolia, not to mention their ongoing behind the scenes work which is continuing completing due dilligence on Mongolian resource asset acquisition opportunities. However after considerable time and investement on researching the portfolio of General Mining Corporation, the Shoemaker prospect currently drilling is one which is considerably derisked at an entry sub 20 cnts on past drilling results not to mention success by many explorers in the Earaheedy Basin. End of the day, im not saying that I am 100% supporters of the GMM boards lack of media and pr leading up to a very aggressive and active 12-18 months, but alternatively I am not exactly going to join the bandwagon of condeming them for their lack of PR either -
We cannot be 100% certain of proceedings going on behind closed doors but I am confident that GMM understands that weakness in their current shareprie has resulted from a lack of meaningful announcements regarding drilling confirmation for the UVS Potash project. With that said, I have great faith that the negotiations and field work is continuing and the market will be informed very soon on a date when drilling will commence on this project as the board is obviosuly more than aware that we have a six month window before the drilling season ceases in Mongolia.
Personally Ill state what I always have on this thread being a long term holder of GMM, and that is that with such a tiny market cap and only some 25m shares on market to be traded, the lack of volume and fast re-rate was always inevitable as their is only so much this share can go with many holding tighly to their holding understanding that true financial and exploration success could be on the horizon for holders, able to allow patience to see them through this slow tradng range we seem to be having of late- Rest assured though that should a great acquistion be announced to market in mineral rich Mongolia any time soon, she will re-rate very very quickly with those on the sidelines surely to inflate prices at any cost to enter on this tightly held share registry -
Of note, I have mostly tended to own a handful of long term stocks whilst making more success over my fast investing career, trading stocks through volatile markets, but Ill go on record to say that GMM has and will continue to be my overweight long term stock in my share portfolio which will continue to be accumulated at levels such 18c-19c levels. To think that their IPO price at 20 cnts was considered fair value when they listed and yet now, with so many positives and projects de-risked from drilling results we sit at 18 cnts is an opportuity which doesnt usually present itself everyday for value investors -
End of the day, Im in for the long road and am willing to accept any bumps along the way as I am confident that the bumps along the way will be of little significance once GMM unearth substantial shareholder returns from realising the vast potential in their exploration portfolio. Personally, I dont think that an announcement from GMM about confirmed drilling dates at our potash project will send the shareprice north quickly, but am however eagerly awaiting an announcement from the board on a resource asset acquisition in Mongolia ( hopefully a de-risked adavnced coal project or an advanced copper/base metals tenement) as I feel that is where the real re-rate will come from the Markets- I could be wrong -
Concluding this post, good to see Shoemaker drilling ahead and GMM board showing their ability to meet deadlines. A true sign of confidence from management from my trained eyes. As Ive said before thanks to Jhonny bringing it to my attention, before questioning selling out of GMM due to a lack of interest atm, research our key IOCG project situated in a very busy district with majors drilling ledt right and centre to enearth the next Olympic Dam Deposit- Of importance, Venus's Metals deposit situated in the Gawler Craton West Super Project ( in particular their Gatum Gatum Bore project adjoining GMM's tenements)is one which should be well researched to understand how company making this exploration ground could be for GMM-
No financial advice intended+DYOR as usual but whilst this stock is overlooked by the market of late is potentially the best time to create a position for yourself before the market re-rates her to fair value -
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