GNM great northern minerals limited

My wife and I are only recent shareholders and we feel as if we...

  1. 209 Posts.
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    My wife and I are only recent shareholders and we feel as if we have walked into a bramble bush. Feel sorry for anyone who has stood by this stock only to see it halve and then halve again.We bought into GNM because the assets and its future looked compelling.The company is sitting on over 500 million tonnes of high grade coal. Finance is secured and in place for the expansion of the new longwall machinery and production, although behind time, will soon be up around 3,500 tonnes per hour.The company has secured all the land that is required for long term expansion so it will be able to mine all its leases without external interference. Roads are in place and shipping should not be a problem other than it will depend on the shipping timetables as to when the company receives its revenue.Directors have decided to add to their portfolios to the tune of 10,000,000 shares. Might add all their options (13,000,000) are well under water. ( between 60c and $1.60 for each share)The only real problem I see with mining in this area is the presence of methane and underground mining can be dangerous but the Dept of Mines is well versed in the dangers of mining this area of the Illawarra. With the price so low we have kept on buying only to see it slip further each week. Got me stumped!!!
 
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Last
1.3¢
Change
-0.001(7.14%)
Mkt cap ! $2.010M
Open High Low Value Volume
1.4¢ 1.4¢ 1.3¢ $1.397K 100K

Buyers (Bids)

No. Vol. Price($)
2 112397 1.3¢
 

Sellers (Offers)

Price($) Vol. No.
1.5¢ 62299 2
View Market Depth
Last trade - 15.46pm 20/06/2025 (20 minute delay) ?
GNM (ASX) Chart
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