My further opinion after doing some more research tonight. This...

My further opinion after doing some more research tonight.

This might just be a sleeper. I've only a small holding recently at 3.3 cents, so it's no big deal to me, thought I might make a few hundred quid out of interest, but I'm just reassessing that now. Why?

From what I can read, the resource and grade has taken a few by surprise, including the directors and management.

My impression is that the directors and management went into this initially thinking they could exploit a small resource and get it toll treated and make a few dollars out of a lifestyle type setup.

However, I'm reading that they have been surprised by what they have found, and are now having to change tack a bit and think about a whole new scenario. More gold than expected, higher grades than expected, and the imminent possibility over the next year of defining a resource that is greater than a million ounces at more than 4 g/t.

I think this has somewhat surprised the directors and management, and those watching the stock. I wouldn't be surprised to see a new substantial holder announcement, from either a director, or one of their near neighbours. This could get interesting.

I think that this has the potential to get hot very quickly.

Who are the near neighbours who might be interested in taking 19.9% ?

SBM in particular, but I wouldn't rule out the aggressive NST further to the south, or Anglo Gold Ashanti and Gold Fields to the east, and Dacian and Saracen to the North - the area is peppered with these companies, and they are all hungry, and I can bet they are all watching GMD. Most of them are cashed up.

Someone is going to move in this game of chess. Who is the most aggressive? Who will be first?

Some will wait for the next set of results, like many punters, and be prudent. Someone may throw the dice early and take a punt. How would GMD react now?

Anyway, I hope this has honestly been helpful for some of you.

It's an interesting scenario being set up here, and possibly worth a punt, depending on your level of risk.

Gw