RE:DD re GMAJust a reminder of DD last article on GMA (Òctober 20, 2014) and how good he believes Mr. Simon Britt is:
TJECON wrote: By Danny Deadlock, TickerTrax This chart I put together overlays the TSX Venture against the big three in North America. It paints a clear picture of speculative stocks - resource exploration in particular. Risk of another hard blue chip correction still exist between now and the end of November but many of the small stocks have hit a point where shareholders refuse to sell at these levels. Thin buy orders are the biggest problem for many companies as even small sell orders can artificially (and significantly) lower the market cap. But as the fear of an even harder landing subsides this next month, confidence in putting buy orders back on the board will return. For now it’s a waiting game. 1) GeoMegA Resources Inc. (TSX: V.GMA, Stock Forum) (14 cents) - https://ressourcesgeomega.ca/ When 2014 ends it will be GMA that I have the greatest regret over. This CEO, who I have nothing good to say about, managed to destroy our gains (in excess of 300% from Q1) and created broad losses for many people. Not only has he dropped the ball on their core rare earth project and processing technology, but he turned his focus to an obscure gold project. Almost as dumb as doing it at the same time gold was collapsing. I should have known when the CFO left months ago that problems were brewing - but again this CEO told me a convincing “story” as to why he left. This stock and the potential got way ahead of the business itself because the CEO continually pushed back the objectives and news release dates he was disclosing in emails and phone calls. As I have previously stated, this was a perfect example of a CEO grossly "over-promising and under-delivering". He did a perfect job of single-handedly destroying his own credibility in the eyes of many. I personally rode this stock all the way up and all the way down - blindly keeping the faith in the CEO, the size of their rare earth project, and the news flow on their processing technology. The market didn’t help the situation but anytime you have a company that appears so poorly managed, you are going to see a large percentage of your shareholders throw up their hands in disgust and sell the stock. I know that if I was the investors who bought $3 million worth of stock in Q1 at 60 and 70 cents, I would be calling for an overhaul of senior management and the board of directors. Unfortunately they don’t own enough paper to do that, but it would be nice if someone did. I am still a shareholder and plan on holding my position into Q1/15 but only because I refuse to sell now at these low levels. I have no intention of following the stock any further publicly through Stockhouse as I refuse to give this CEO the audience. With that being said I suspect many of you are stuck in this also. For that reason I will continue to follow GMA with paid Ticker Trax subscribers only. This will only be until Q1/15 and it will only be to comment on their progress. But be for-warned my comments may be good or bad and my negative opinion of the CEO will not change.