There was a discussion about them here a while back. I recall that the consenus was that altough their portfolio is top notch, the exorbitant management fees will kill-off performance long-term. The discount to NTA is justifiable in my opinion.
Better to set-up (over time) a direct exposure to resources by buying BHP, RIO, WPL etc. (or even CVRD, Xstrata, Shell etc from overseas exchanges) You are bound to at least match GMI's long-term return.
GMI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held