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Geomega Resources Inc V.GMA

Alternate Symbol(s):  GOMRF

Geomega Resources Inc. is a Canada-based company. The Company is engaged in the acquisition, exploration and evaluation of mining properties in Canada. The Company's wholly owned subsidiary Innord Inc, which is engaged in developing technologies for extraction and separation of rare earth elements and other critical and strategic metals from its mining properties and other mining and industrial waste. The Company owns Montviel property, which is located approximately 100 km north of Lebel-sur-Quevillon and 45 km west of the Cree First Nation of Waswanipi. The Montviel property comprises 96 mining claims totaling 5,333 hectares. The project is comprised of 178 cells, for a total of approximately 9,910 hectares.


TSXV:GMA - Post by User

Bullboard Posts
Comment by outonthetileson Nov 04, 2014 10:38am
84 Views
Post# 23092223

RE:RE:Money - $450 K Placement

RE:RE:Money - $450 K Placement
goldn1 wrote:
Here is the problem. The $450K is just for the gold drilling campaign. GMA as a company is running out of cash and will need to do a new PP just to finance their monthly expenses. They probably have enough cash to get to the end of the year, so if they would to do another raise to finance them through 2015, say $4-5 million at these prices you would see the shares dilluted by 50%+/-.

GMA doesn't seem to have the cash or experience to unlock the potential of the separation process, release a simple PEA or do a simple drill campaign. My hope is that a bigger firm with more experience buys them out and develops the technology and assets. If GMA tries to do it themselves, at this pace, there will be 1 billion shares outstanding and we will never be more than a penny stock. I am sure the Germans are delighted to see they paid 60 cents 5 months ago with 90-1.00 warrants and now gma is doing a PP at 18 cents...


G1

Imagine what a joy it must be being around this bundle of negativity all day? An egomaniac who feels he is smarter then everyone involved with the company and that he is "owed" by everyone that works for the company. In my world they call a guy like this a "diickhead".

Relax and lets see what happens over the next two months......or better yet sell your position and move on already. 
Bullboard Posts