Nice dose of reality here.
The rampers who were expecting up towards 7 figures were completely deluded. One only needed to have basic maths skills to have been able to see that the ore body dimensions could in no way support a resource of that size.
The market gradually caught on as drilling progressed and it became clearer what the actual resource size would be and dropped GMR´s market cap from over $100m down to its current level which looks about right given the need to raise funds.
A tip for the newbies. Learn how resource figures are calculated. Smart money knows how to calculate the JORC and for companies like GMR that report a lot of their drill holes they will have made their move well before the JORC actually comes out.
jorc out, page-7
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