GMC 0.00% 0.6¢ gulf manganese corporation limited

Ann: Placements to Raise A$3.6 Million, page-115

  1. 4,652 Posts.
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    This stock really seems to follow the same pattern.
    It lures a new bunch of traders to buy in to some promise, this newly lured group become the cheer squad for GMC on Hotcopper and go into denial about a post that discusses any risk relating to GMC (despite how real those risks are), and they try to discredit our posts.

    Below is an example of someone that once fell into this group and tried to discredit everything I posted on here for a good 18 months. Luckily, they eventually realised I was correct.



    I hope those that have replaced JWPepper (and want to turn a blind eye to risks) learn from this, that no matter how bullish you are (refer to JWPs previous posts on GMC), it may be worth considering the risks and understanding why GMC trades at the price that it is at, in This downtrend in which it makes new 52 week lows.

    The interesting thing about the CR is GMC state "They have received commitments for $3.25 million"

    Screenshot_20190522-190737.jpg Screenshot_20190522-190658.jpg

    Commitments = with GMC i will believe this when they actually receive the money.

    GMC have previously had 4 Cornerstone Investors that subsequently walked and terminated their agreements despite GMC assuring funding was around the corner. I hope this latest "commitment" doesn't follow the path of the previous agreements.

    The biggest sign for me though was still that 1.5 billion option holders (most sophisticated) including the CEO Hamish, passed up the opportunity to buy this at $0.005. That does not bode well in my opinion and unfortunately I see this dropping.

    Hope for these new shareholders that GMC receive these "commitments", or things may take a nasty turn.

    With GMC it pays to be prudent to not assume anything until money is in the bank. Today will be interesting.
 
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