Directors keep buying 5 times on the market in last week, institutional buyer made up its mind to invest $22.5 million. Wow, what I can say? Just fantastic!
$22.5m cash for a company whose MC is $6m?
My similar experience is MNM, after the directors keep buying 7 times on the market, it's SP soared 600% from 5c to 29c. (But MNM cannot secure a $22.5m deal at all.)
This situation is rare to find on the share market!
Shareholders should notice that these buying happened after:
"Ground EM surveying completed and geological assessment completed over VTEM anomalies at Mt Venn and Mt Cornell"
and more important:
"Analysis of over 10,000 historical samples has identified broad zones of anomalous Ni, Au and Cu across the Jutson Rocks Greenstone Belt"
"The recent review of all historical data also delineated a large copper anomaly in the north of the Jutson Rocks tenement that extends across to the southern part of the Mt. Cornell project area, as well as 25 distinct gold anomalies."
SO if you cannot realize the huge potential of his company, the director do know, the investor Zulu Capital do know.
"This resulted in a database with over 10,000 geochemical samples, including 160 drill holes dating from the 1970?s. This data was digitized and added to a comprehensive database and systematically addressed using a fully informed geological concept."
History may repeat imv, "Historical Data Identifies Anomalies Coincident with Geophysics Targets"
30 years ago, people believed thisis a huge Nickel resource within our tenements, Now Zulu told us again "yes, we too!"
Bear in mind, GNI is definitely a "hiding gem" .
good luck!
GNI Price at posting:
2.8¢ Sentiment: LT Buy Disclosure: Held