GREY:BHNGF - Post by User
Comment by
rdwwwon Sep 17, 2010 9:27am
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Post# 17460035
GEM reality
GEM realityposting on the bds can with some negative rants, allows others looking to understand why the company is mired in mud with a gold boom underway for years now . After BreX, I noticed some grades out of YPN,(the predecessor of GEM) and thought , nice, good grades in a safe country. Today those grades are worth a CHUNK of money, but Al as the preseident has been unable to make a dent in these properties for a number of reasons. There have been other plays along the way, diamonds in Wawa (which i fully endorsed), diamonds in Atta ( which I didnt like) , Ni in TImmins and Sudbury, etc etc. Uranium looked nice, but was in a bubble and as a result, the gold was dropped for the next new best thing. We all know that gold was going to have its day, and even Al will go along with the gold is going higher theory. But the work to keep these properties developed fell by the wayside and the programs are only developed in order to get a mkt pump rather than a sustained effort to move them to a mine situation. Years ago, GEM spent a whack of accounting money to separate out Wawa gold from the company as a precursor to a spinoff. but nothing happened other than higher than necessary accounting fees. A million spent on Wawa Gold or Highbank as its now called, over the past 2 years would have put the company in a much stronger position. Now Al has to scramble and finally bring on people who know what they are talking about, with regards to the Ur + REEs, in order to turn the ship. He may be right, but it didnt have to be this difficult. He needed to get the gold running and then everything else might have been a tad easier. Juinior mining exploration is about getting money in the ground, not the back office.