I checked with the company and got nothing. I checked with my (fairly distant) out of Bendigo "local" (wife's friend's husband - a farmer in the district).
He says the background is that Mr D Cahill and another founded GBGM some ten to 15 years ago, having early sold out of Bendigo Gold Mines, but they never really got anywhere. He assembled a number of very promising tenements, but could not get things working, and they progressively diluted down in favour of a list of successive partners, each of whom eventually had some difficulty or other working well with Mr D Cahill.
Apparently local Bendigo opinion is divided as to Mr D Cahill, some say he is good but colourful, others dislike him intensely, some call him visionary and entrepreneurial, but few call him a competent high achiever.
It seems to me that he has now diluted to next to nothing, has had plenty of time to pass his considerable experience on to others in the company, and this company, being in production, is no longer the place for an entrepreneurial battler - no matter how much of a good bloke some local have said he might be.
Then add that court decision - and the view is stronger...
GBM Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
