As well as these attributes, GCX also has the backing of a fund with very deep pockets, management & support of the Apollo Group which has done it all before, no potential zoning issues (there were those who believed that CHN would have problems getting permitting for Julimar), a commodity mix that is well understood by the market with regard to applications & processing (unlike WA1), and a neighbour just down the road in the form of BHP that is buiding a $1.7Bn mine for the same minerals sought by GCX. This neighbour would be a logical JV partner/acquirer of GCX assuming any exploration success.
And assuming any exploration success, the longer BHP waits, the more it will have to pay for GCX. Consequently, the quicker they move, the cheaper GCX will be.
This "game" could all be over sooner than any of us anticipate. It all depends on what is happening out at Dante right now.
GCX Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
