GBMS's gonna hit the big time soon. It's just a matter of a...

GBMS's gonna hit the big time soon. It's just a matter of a little time until the right time for the big time that's gonna get hit.

Has there every been a stock so bereft of interest.

Well ...

Comments welcome on the Sept qtrly ... here's my view:

It seems they have finally come clean on the problems with the Inglewood/Maxwell's plant. They say "very tough quarter" for the plant. The financial section gives sales/collections of $ 100,000 (calc'd 57oz at $ 1,750/oz) at a production cost of $ 324,000 (calc'd $ 5,684/oz. The Pachuca tanks are full of sand. The scrubber failed. The plant doesn't work.

(Dictionary.com:
pa`chu´ca tank
1. (Metallurgy) A high and narrow tank, with a central cylinder for the introduction of compressed air, used in the agitation and settling of pulp (pulverized ore and water) during treatment by the cyanide process; - so named because, though originally devised in New Zealand, it was first practically introduced in Pachuca, Mexico.)

But don't worry ... the sixth (or tenth?) highly experienced mining engineer and manager has been appointed to save the day.

And pre-dating the announcement of his appointment, a second scrubber, a new carbon processing circuit, and a new de-watering cyclone (under order).

And the hard rock capacity will be ... wait for it .... 15 to 18 tones per hour --- same as what was due in August 2007. And by the annual, all the original f/c's stills stand - just delayed um ... 4 years.

There's 516 mill shares now, a new 175 mill being issued, and 172 mill options = 863 million. The 10 times dilution in capital of the 93 mill of shares at the time I got talked into it is now roughly matched by the 10 times loss in share price - 20 cents as issued to now 2 cents.

It's not all negative. The $ 59,000 in the bank will keep them going for weeks - no - days (unless the creditors that are again on 3 months plus kick up), and they do have $ 270,000 coming. Overall cash burn is over $ 300k per month.

They have brought 1750 tonnes of hard rock to the surface, and the exploration underground at Maxwell's looks to be very good, and much of it would be 15gms/tonne, and a previous report did claim good stockpiles of tailings (2gm/s/tonne on the ROM pad.

Surely even the 2 (opps 3, opps sorry now 5) merchant bankers on the board) can hire a truck, and get the stuff to one of the plants in the area that works, make some bucks, and stabilise?

These guys still not only show no sign of knowing their business, and no sign of being able to recognise the difference between others who do or don't. Unconscious of their incompetence. That'll get me banned right?

Still, with all the exploration balls they coat with new shareholders cash and toss in the air, maybe one day, one won't land in the pile of brown stuff.