Rhyme OR Reason?, page-40

On subject of rhyme or reason, I lack both but Im in anyway

The mkt lacks what the thread title suggests also.

GMD now have a mkt cap of 372 mill. (Change of ownership and some big hitters coming onboard). Up 140% today.

GMD has the following.....
The current Mineral Resource of the Ulysses Gold Project stands at 27.3Mt @ 1.8g/t gold for 1,608,000 ounces of contained gold. This provides a strong foundation for Genesis’ development as a future mid-tier Australian gold company.

This is likely to be an underground development (which is obviously feasible according to NST- grade maybe dragged down a bit 1.8 g/t probably misleadingly low, but still).


AUT - Canadian based. (Im putting this a slight disadvantage becuase of iron ore i.e - Aussy dollar weakness will support Aussie producers more than Canadian - but its not huge).
mkt cap $130 mill.
30 mill cash (although most cash reqd for earn in to 80% of project).

Resource wise.

8.8Mt @ 8.1 g/t for 1.7 million ounces.
Yep, the reource needs to defined a little more but four rigs on site doing the business so newsflow will be good.

In short same size resource as GMD with a much higher grade at 1/3 the price.

Probably to simplistic and if Ive missed anything call it out.