Why I waste my time? 2 reasons. 1. I been burnt by AZZ over a...

Why I waste my time? 2 reasons.

1. I been burnt by AZZ over a supposedly $250M deal with no conditions precedent as per announcement on the ASX. This would have valued AZZ at over 1.20, when it was trading at 0.30 pre announcement

2. GMC with Pak Parthen announcement. With GMC, Pak even made a deposit and the ASX requested further info from GMC in relation to Pak's creditworthiness. Again, this deal valued GMC at about 5x the traded price (from memory).

So I've learnt that unfortunately if something is too good to be true, even if the source is an announcement on the ASX, it's probably not going to happen. I just hope others don't learn this the way I learnt this.

With GMC you don't even need to infer this far.

Tanah Capital got issued shares at $0.005. They were meant to subscribe for more at an effective price of $0.009 but didn't.

If a sophisticated investor with access to more information than disclosed to us ordinary shareholders thought GMC was worth investing at $0.005 but not $0.009, do the math (excuse the pun).

If you read corporate finance theory, one of the factors that drive superior returns is management.

Look at the previous ASX company that Hamish was involved with, then look at what has been (or not been) delivered with GMC and really ask yourself if you separate the emotional attachment to the stock, do you think this management is going to deliver given the inherent risks of getting this project up and running.

History is known to repeat.