re: easy money
Ok here we go....first gmi management are starting a roadshow tomorrow with bell potter being first off the block so brokers going to start taking a closer look. Today GMI announced that as of last week(before todays huge run in resource stocks0 undiluted NTA had now grown to $2.12. Fully diluted the co would be worth well over $1.40 per share and growing every day...this should price gmio at 40c + time premium and leverage With todays rises NTA is probably $2.20...fully diluted $1.40+ so oppies should be 40c + time premium and leverage
Investment Update and Estimated NTA as at 30 March 2006
NTA 1 Before Tax NTA After Tax 2 Diluted 3
NTA After Tax
30 March 2006 $2.12 $1.79 $1.40
28 February 2006 $1.84 $1.59 $1.30
Notes
1. All figures are prepared in accordance with AIFRS and are unaudited
2. Estimated tax on realised and unrealised gains
3. Assumes all options issued are exercised as at 30 March 2006. GMI’s issued options to subscribe for shares at an
exercise price of $1.00 per share. The options expire on 30 November 2006
The Chairman of GMI, Mr John Robinson, and Mr Evy Hambro of Merrill Lynch Investment
Managers Limited, GMI’s Investment Manager, are conducting presentations on GMI between
3 and 5 April. To enable the most up to date information to be included in the presentations,
GMI has released an estimated NTA as at 30 March 2006. The NTA as at month end (31
March) as required under the ASX Listing Rule 4.12 will be released to the ASX on Tuesday
11 April.
Top Twenty Holdings as at 30 March 2006 (% of gross assets including cash)
Description % of GMI including cash Country Commodity
CVRD 9.7 Brazil Diversified
BHP Limited 7.9 Global Diversified
Rio Tinto Plc 7.9 Global Diversified
Impala Platinum Holdings Limited 6.3 South Africa Platinum
Xstrata Plc 4.9 Global Diversified
Falconbridge Limited 4.5 Nth America Diversified
Anglo American Inc 4.5 Global Diversified
Alumina Limited 3.8 Australia Alumina
Zinifex Limited 3.4 Australia Zinc
Teck Cominco Limited 3.3 Nth America Diversified
Vedanta Resources Plc 2.9 India Diversified
First Quantum Minerals Limited 2.9 Africa Copper
Gold Fields 2.6 South Africa Gold
Alcan Inc 2.4 Canada Aluminium
Zijin Mining Group 1.9 China Gold
China Shenhua Energy 1.8 China Coal
Harmony Gold Mining Co Ltd 1.8 South Africa Gold
Kazakhmys 1.7 Kazakhstan Copper
Straits Resources 1.6 Asia Diversified
Iluka Resources Limited 1.6 Australia Industrial Minerals
77.4
Portfolio Movements
Between 1 March and 30 March 2006 GMI increased its holdings in companies listed on the
ASX including Straits Resources and Lafayette Mining, and also increased its holding in
Eramet SLN, listed on the Paris Stock Exchange.
Top 10 Holdings Stock % of Fund Listing Geography Commodity CVRD 9.7 Brazil Brazil Diversified BHP Billiton 7.9 UK Global Diversified Rio Tinto 7.9 UK Global Diversified Impala 6.3 South Africa South Africa Platinum Xstrata 4.9 UK Global Diversified Falconbridge 4.5 Canada Canada Nickel Anglo American 4.5 UK Global Diversified Alumina Ltd. 3.8 Australia Australia Aluminium Zinifex 3.4 Australia Australia Zinc Teck Cominco 3.3 Canada Canada Diversified
Also OXR and SRL
GMI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
