Now a bit more upbeat. The people who have been running this...

Now a bit more upbeat. The people who have been running this junior bought up heaps of exploration licenses for peanuts when lots of junior explorers who were in the penny dreadful group during the dotcom boom, sought to be dotcoms instead. Mining the punters. Go with the flow.
So heaps of marginal exploration or lightly explored leases were available for peanuts. Enter the bods building Giralia. Bought a heap up. Biggest holding of leases of any miner in Oz after a while. Some good more not.
As we all know, dotcom died, and mining gradually took off. GIR people bundled these leases by commodity and spun them off into an eager market, making nice profits for the GIR holders both directly and indirectly. In the process the floats got some more money and started drilling. Some were duds, but a few found something worthwhile.

They kept a piece of all of them, and were able to get some excellent profits from selling some of those holdings.

Quietly they kept the iron ore group, without saying anything. Then all that started to warm up and away GIR went SP wise. $2 country.

So here we are again. They have the cash at hand,
juniors are in trouble all over the place, needing cash, and one way of doing it is flogging off exploration licenses, but there are few buyers just now for most types. Enter GIR. The proven formula is being applied again. They are now buying up better quality licenses in close proximity to current GIR exploration. Building up a package here and there. But for not a lot.

As the cycle turns around these packages with proven up ore and more prospective will again become desirable items in the larger cap shopping lists. Or Chinese, Korean or Japanese shopping lists? This time the money involved in selling them will likely be of a different order of magnitude to earlier spinoffs. No doubt GIR will keep a piece of them, as before. When they are developed more these pieces will themselves be good money spinners, probably.

So the GIR mgt/entrepereneurs have a formula that works, starting it a second time around, for bigger rewards again. Another rung or two up the ladder. So is it GIR the money machine? Without even digging a hole or spending anything on plant. They are still exploring, actively but not burning cash fast. Cash on hand has been rising fast. How many junior miners not in production could say that?

Expect they will choose one top prospect in time and look at developing that with a partner from the user market, or another bigger miner.

GIR mines the market. But it has been a profitable ride for shareholders, especially if they flicked off some of the lesser floats quickly. Think there are more on the way, when the time is right.