Here is my biased opinion, as I'm very bullish about GMM, and NOTHING has changed since March.
The major shareholder has 18% of shares on offer = 56 million approx
= $31 million (on paper today)
And has been holding since issued sub 1c (IMO)
That's 55 times (5,500%) in profits, and has NOT sold a single holding.
This shareholder is also down on paper $7 million in the last 6 trading days (73c highs).
Once these facts change.... Is when I'm going to change my strategy, and that maybe at 50c, 30c, $2, 5 years, 1 year, etc etc etc.
Lithium prices have declined in the last week (a fair bit actually),
BUT, we have pre sold our entire production for 2016 - at a good price....
That's what EVERY mining company of any products, dreams about since mining began (right?)!
The only question is, to review this stock after holding it for 12 months (at whatever month your entry point). It was the biggest gainer of ASX in 2015, and up 300% so far this year.
So stay cool, and before any emotions - the history of GMM's performance asks...
Have YOU been holding this for 12 months?
Well have ya.... Punk?
GMM Price at posting:
56.5¢ Sentiment: Hold Disclosure: Held
