There are many companies that raise capital but never get past drilling holes in the ground. Every time the drill hits something interesting like a gold tooth, there is a lot of fanfare and the mug punters buy the shares at ever increasing prices.
When the money for drilling runs out, they raise some more and drill even more holes in the ground. Years go by and the company is no closer to producing gold. Eventually the punters wake up and the bubble bursts.
Unlike the chronic hole drillers who promise the world and deliver nothing but a swiss cheese, GBM have a working mine and are actually producing gold. How much gold?
My bet is that sooner or later they will hit some of those "jewelry boxes" that made the Inglewood area so famous.
Just down the road is the Posiedon goldfield where they found huge numbers of large nuggets just under the surface the day Posiedon won the Melbourne Cup [1906] It is also not far from Moliagul where the "Welcome Stranger" was unearthed.
GBM Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
