GMM 0.00% 65.5¢ general mining corporation limited

Capital Raising & Capital Position

  1. 29 Posts.
    Invertedva is spot-on - GMM will raise just sufficient capital to pay Galaxy for the hugely potential Tantalum/Spodumene (Lithium) project initial payment - $2.5M - plus re-commissioning costs to get it producing again ASAP, and I suspect Fotios will tip in any shortfall as a loan as he done before. So GMM will become a producer of Tantalum (rare & valueable) & Lithium (if they wish) in "about 6 months", a license to print money. The infrastructure is all there which Galaxy moth-balled for 2 1/2 years from when it was producing and Fotios et al has stitched-up a real sweetheart, killer deal to lease for $2.5M p.a. + royalty @ 10% for 3 years, with the option to buy the to-be producing asset @ 100% for $30M within the 3 years - extremely reasonable! Witness what Fotios did with Northern Star Resources (NST) - from 4 cents to $2.02 (@16/2/15) & higher!! - and he owns 23% of GMM. Fotios has a great track record and a huge stake in GMM - a ringing endorsement and plenty of 'skin in the game'! Also, GMM has only 84 million shares on issue, apparently tightly-held, so there is no need for a share Consolidation. All the favourable elements of GMM suggest to hang on to your hats for this sky-rocketing ride!!
    Good luck to all GMM holders & those considering it.
 
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