IMO, GBZ only attaches Morris Creek from south. West of Morris Creek is still GBZ's application and competing with CDU. East side is hold by Xstrata.
Looking at the latest SAM result from CDU, there seems great chance that copper strikes go to south, but will they longer enough to cross another 1.5km to reach GBZ's tenement?
This is not a cheap punt for GBZ as well. With 200M shares and options on issue, MC around $50M, there has been serious delay on assay results, (definately not significant). More drill needs more money, and GBZ is near to do another capital raising.
The reason that I never touch GBZ is that IMHO, their tenemnet was abandoned by Newcrest Mining, who should know better about the land. And east side of GBZ's tenement, Matrix Copper worked for years, found nothing and went administration during GFC. The current holder is SVM.
My current nearology player picking up is MOX, who holds tenemnets on both north and south side of RMX. Drilling should start soon and MEU pays the bill.
MOX holds $2M cash, 36M shares on MEU (valued $5M), and MC around $9M. Anyway, its Punt Hill's result is not so bad.
DYOR and good luck to QMN and GBZ holders.
Sorry to talk something unrelated to QMN in QMN thread.
Weihua
QMN Price at posting:
35.5¢ Sentiment: None Disclosure: Not Held
