TSXV:BER.H - Post by User
Post by
Time4TAon Jul 25, 2011 9:50am
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Post# 18868030
From GMC Board - BER is Fine...wait for Lift of Ha
From GMC Board - BER is Fine...wait for Lift of HaGMC.WT expiry Nov 3, 2011 exercise price $2.75 last B/A 0.005/0.01
GMC.WT.A expiry Mar 6, 2012 exercise price $3.00 last B/A 0.005/0.025
GMC.WT.B expiry Apr 27, 2012 exercise price $5.00 last B/A 0.005/0.02
GMC had $28.1 million in cash as of their March 31, 2011 report.
they have 103m shares issued and oustanding. if those warrants ever got into the money, they would have a very large amount of money. i don't have the current outstanding numbers of each warrant out there, but from memory there are a lot.
i collected a few hundred thousand of the WT.A's and B's at a penny over the past few years just by stink bidding what i thougth could be a big return based on their huge cobalt/nickel project in Cameroon where they have a 60/40 split with the govt.
so i have already taken a cheap flyer. who knows? I have some early BER from Friday am, not nearly enough, but enough to be very happy. a member of our trading community spoke with BER on Friday and verified that there was no typo on their news release, so i took down a large chunk of GMC stock late friday, when the volume spiked large. up a penny on that LOL.
their Cameroon project is the largest near pure cobalt (the other, never mentioned battery metal) project on the planet and that's why i took a flyer on the warrants. i don't like the way mgmt undertook multiple feasibility studies, however anything can happen. if New Mexico becomes the next hot spot for REE's, then GMC needs no financing and can quickly hit the drill road while other nearby plays wait to do the broker dance to finance some drilling.
before BER struck very hi grade REE with a great HREE percentage, no peeps cared that GMC had staked REE land in NM, it was just a boring, waiting to finance a cobalt mine stock.
look at the GMC chart. great pos MACD divergence off a classic double bottom formation.
funnily enough, the $28M they have left in cash is the dregs of a huge financing done by Frank Giustra a few years ago. wonder if Frankie is awake these days.
based on the BER drill cores released on Friday AM, i expect to see a huge staking rush in New Mexico in the next days and weeks.
this game is seldom boring. GLTA. maybe GMC mgmt will wake up. who knows. regardless, they have enough loot to make anyone else staking the area look pale.