it is very difficult to know what Rebanks drill results will be... but next weeks will probably be the first of many announcements from Redbank over the next few months
Redbank basically bought an old mine with view to being a small producer when the copper price was high. With the pull back in the copper price they have decided to postpone production until next year and focus on proving up additional reserves. They have recently raised capital and had a major new shareholder Stirling Resources (SRE).
Rebank have also got or have in application - other tenements in the region - in fact most of the land area nearest to ERL94 that is bordering north and west of GLM's EL10335 tenement area. I think some of this they hold in JV with Glencore. I believe they will be drilling there as well.
I just think that GLM is a bit of a sleeper if their is significant drilling success - given that RCP's mkt cap is 19m and GLM's is 4m.
RCP drilling is also going to test for uranium - another wildcard.
GLM Price at posting:
6.5¢ Sentiment: Hold Disclosure: Held
