I believe the management of Reflective Minerals (Alex Hewlett, Chris Daws) pegged open ground after it was found to have been open for application. GEMCO (BHP etc) had the ground pegged right up until the 1980's but for whatever reason didn't renew it. Maybe because they had their noses in the trough so much on the Island they got sidetracked??
One thing is known though and that is BHP staff at the time wanted to drill off-shore for the Mn but they never got round to it. They (the GEMCO employees) have told me directly that they have stood on the shoreline and dreamt of the vast riches of Mn offshore in the greater basin area. I think Retrac has mentioned earlier that it won;t be long before GEMCO's Groote Island resources are seen as the edges of the biggest, higgest grade resource in the world and I agree. Groote is simply a freak of nature - high grade, very low impurities and every Mn user on the globe wants it!
Anyways thank goddness Reflective did what they did and the management of WTN did what they did for the benefit of us all. I know that I will be keeping an eye on what the managment of Reflective do next as they seem to be a pretty smart, well connected group. I believe that their next 10 bagger is US Nickel Ltd which has just issued a prospectus to the public which I am trying to get my hands on for the next ride!
Regard GR
GOT Price at posting:
$1.03 Sentiment: Buy Disclosure: Held
