GeoMegA Resources (TSX:V.GMA, Stock Forum), a Montreal Quebec-based firm engaged in the acquisition, exploration, development and operation of Canadian mineral properties, announced today that the company's CFO, Erik H. Martin, resigned.
According to the news release, Mr. Martin left the company to pursue other opportunities. The company announced it will immediately launch into a search for a suitable replacement.
Bullboarders attributed the severe drop to the 'bi-polar' investor phenomena, saying the company's intrinsic value hasn't changed one iota as there is strong confidence in GeoMegA's proprietary REE separation techniques.
GeoMegA was in the news recently when the company announced conclusive benchmark results confirming physical separation of REE from a commercial mixed concentrate seven days ago.
Shares did an emotional 31% plummet on the news to $0.40 per share.
Currently there are 43.9m outstanding shares with a market cap of $17.4 million.