According to their previous investor presentation. Drilling started in December and they were expecting to secure Spodumene and Tantalum offtakes by Jan 2016.
I was convinced that GMM would be heading down in this general market turmoil and given they had had such a strong run (charts were pointing to 20-22c), however the recent strong buying perhaps indicates that we have some significant news on the way? It has certainly outperformed other lithium players most of whom have seen SP decreases so far in January (AJM, NMT, PLS, ORE - flat).
So perhaps either drilling has hit some big new pegmatites at depth, or we have a major offtake deal in the works which locks in some price increases (GMM said Talison expect 20% more for their spodumene this year).
Either way, its not going back down to 20c after this most recent surge.
GMM Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
