I find it strange that the only experienced mining people they have had have both left within a few months... 1st the Project Manager left after only a few months, then Mr Botting left after less than a year on the board.
With experienced operational management being hard to come by, the lack of mining/processing experience at board level and GBM's apparent cash flow issues, I am having trouble seeing how they can attract (and keep) a Mr Fixit. It doesn't look like the new Business Manager with a background in extractive industries is up to the task - mining and quarrying are very different beasties.
From what I understand of the industry, you need to know and understand your orebody so you know where to mine. Get as much of the good stuff out as possible whilst leaving the low grade behind and have a processing plant that can recover as much gold out as possible...Simple really.
Even a board of Bankers, Lawyers and Exploration Geo's should be able to do that.
This will be an interesting ride.
GBM Price at posting:
8.0¢ Sentiment: None Disclosure: Not Held
