Mate, I don't think anyone's claiming the Geko project as it stands is the ultimate company-maker.
But it will deliver CM1 a handy swag of cash, even given the constraints you mention.
For a minnow just off the blocks, "FS total costs of $99m on a $127M revenue and a few million in establishment costs", still amounts to quite a reasonable war-chest.
Concurrently, the Company has some pretty good real estate to explore, so let's see how things progress.
As to management having "no proven record" ...well, aren't you being a bit tough there? Looking at their CV's (http://www.cm1.com.au/) the Board appears at least as well qualified as many - better than most.
And isn't it a tad mischievous to suggest the Company has no money? It's barely had time to spend what it raised in the float.
And we're not so very far from seeing the the first gold bricks emerge from Geko.
CM1 Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
