update from GMI Good afternoon all. I agree, who would have thought the share price would drop to this. I think its just overall panick in the market and overall follow the herd. Who knows if it will continue, let's hope not. I agree that GMI has the goods and that all seems to be going well.
I sent an email to GMI today and rec'd a call from Mr. Larry Cicarelli himself. Pretty decent that he would take the time to call. I asked about the number of shares moving recently, specifically about the large amounts purchased by Desjardins the past couple of days. He thought that this was a good sign, not bad at all. Some of the purchases could be crosses between Desjardin accounts. (I posted some of the transactions from Desjardin to Desjardin the past couple of days).
He indicated that there was no damage from the storm other than water that had to be pumped out due to accumulation, but apparently that is normal. He said that there was nothing wrong with the company at all and that they are proceeding as initially estimated. I think it was mentioned on previous posts that the commissioning of the oxide plant (I think it was the oxide plant) would be done in either the 2nd week or middle of September. Apparently there is no change to that.
All in all, he seemed quite positive on the outlook of GMI.
I was quite impressed that he took the time to call a minor shareholder like myself and explain about the company.
As of the other night, i don't believe that anybody from GMI was selling their shares, rather they have been accumulating the past while. There was no mention of anything to the contrary.
Hopefully the share price moves positively when the commissioning of the oxide plant is announced.
I'm going to stay the course and not follow the herd. I didn't have the stop loss activated, although in hind sight it would have been a good idea as i could have bought more at less instead of waiting for it to climb to break even. I may even buy more at this low price as its a bargain. I thought it was a bargain at 1.70-1.40 for what they have.
Good luck to all. Hopefully this is just a stutter on the rapid climb in the near future.