GMM - General Mining Corporation (Lithium & Potash, & more!)

[shasta]

After posting about SPQ* & GES* from my sub $20m Mcap, low EV watchlist, here's the 2nd cheapest, GMM, ive mentioned it before, but it deserves it own thread, especially with the attention on Mongolia of late

* Refer relevant threads

GMM - General Mining Corporation Ltd

Shares on issue: 40,955,000 @ $0.145 = Market Cap $A5.9m (NB, 15.1m shares still held in escrow)

Cash on hand @ 30/9/10 = $A2.9m

Leaves an EV of just $A3m for a variety of projects in Mongolia & Australia.

Directors also hold 17% of shares

Main Projects:

Mongolia (GMM 100%) - Uvs Basin Potash Project (Potash, Lithium Brines, etc)

http://www.generalmining.com/includes/projects/mong/uvsNuur.html

Mongolia (GMM 100%) - Khangai Fault Project (Nickel/Copper/PGE)

http://www.generalmining.com/includes/projects/mong/khangaiFault.html

Very much in early exploration stage. but Potash has been mentioned by BHP as the "next big thing".

http://www.brisbanetimes.com.au/business/next-big-thing-is-potash-says-bhp-20091110-i7mf.html

GMM also has a strategic alliance with ASX:GXY for Lithium projects in Mongolia & Kazakhstan, which consists of:

{GMM 20% free carried in any lithium project it introduces to the Alliance to completion of BFS}

Australian based projects:

Shoemaker (GMM 50% earning up to 80% off GXY) (Fe, Mn)
IOCG Projects (REE, U308 & Base Metals)
Black Hill Project (Ag, Pb, plus historic shows of Cu & Ni)
Mount Kinahan Project (Cu, Mn)

For more about these greenfield projects ...
http://www.generalmining.com/includes/company/history.html

Recent presentation:
http://www.generalmining.com/pdf/GMM%20Presentation%2030.09.pdf

I don't expect GMM to be around for too long, any major discoveries during drilling & GXY will surely grab them on the cheap!

Disc: Nil held

[drillfix]

Good post Shasta, lots of info there amongst your post with the quick facts so will check them out sometime over the weekend.

Thanks for your efforts mate!

[shasta]

Good post Shasta, lots of info there amongst your post with the quick facts so will check them out sometime over the weekend.

Thanks for your efforts mate!

No worries :)

Its the 3rd new thread off my low EV (mostly < $10m, & M Cap < $20m) resource list, after SPQ & GES.

I'll post more off the list as i filter through the better ones with JORC resources & perhaps long dated options attached etc

[drillfix]

Cool Shasta, look forward to hearing more.

Though I find it would also be a bonus to name the management and to somewhat gauge what triumphs they have had previously or some way to be able to rate them because as both you and me know first hand from Uran, a company could start off and say they have any project that seems appealing on paper, but when it comes down to it, pigs can also fly, therefore if the management ain't no good from the start then its not worth even mentioning as it wouldn't matter what project, sector, or resource they have as it trip up and trap investors in some way.

So, out of 10 stars, how many stars would this management have?

[trackers]

You've done it again Shasta cheers :). For this one, I like the many permits held in Mongolia, but also like that there's a heap of unlisted options at there all of which require the sp to appreciate by 50% before they're in the money.

Now just need to find when drilling season begins :)

[percy]

Thank you shasta,well worth staying tuned in for.drillfix the excellent presentation gives the directors background.

[percy]

You've done it again Shasta cheers :). For this one, I like the many permits held in Mongolia, but also like that there's a heap of unlisted options at there all of which require the sp to appreciate by 50% before they're in the money.

Now just need to find when drilling season begins :)

Do not think it will be this week.3 day weather forecast;mostly dry,extremely cold[max -17 c monday,min -26 c Saturday morning] little wind.

[shasta]

Cool Shasta, look forward to hearing more.

Though I find it would also be a bonus to name the management and to somewhat gauge what triumphs they have had previously or some way to be able to rate them because as both you and me know first hand from Uran, a company could start off and say they have any project that seems appealing on paper, but when it comes down to it, pigs can also fly, therefore if the management ain't no good from the start then its not worth even mentioning as it wouldn't matter what project, sector, or resource they have as it trip up and trap investors in some way.

So, out of 10 stars, how many stars would this management have?

Other than what the presentation mentions, i cant say i know any of there backgrounds, but the fact they have got an "alliance" with GXY over Lithium projects, fully funded by GXY to BFS, tells me they are fairly shrewd operators & having the Board own at least 17% of the company shows they have some skin in the game too. (even better they are all independent!)

My impression, based on the website, what i've read, & where they have positioned the company, i'll give them 8/10, they seem proactive

[drillfix]

Thank you shasta,well worth staying tuned in for.drillfix the excellent presentation gives the directors background.

Hi Percy :)

Not sure why one would stay tuned for me, unless of course you know about my "what should be" policy over management or directors, which is totally in favour of bringing in Corporate Beheadings so they either get it right, or step down, or dont step up in the first place if they are not competent. May sound crazy to most, but in all honesty it would save many innocent shareholders from believing half of these crooks, which many of the ASX companies are full of let alone tangent on other parts of the world.

Shasta and I as you know got previously taken for a ride with Uran, but as thats in the past, with regards to investing then I try to make a part of the decision based upon management as well, because if that is not there, then the story does not matter and is trivial not matter what may be.

Doing trades be it day, swing or scalp is a completely different matter, then one should not care less as you are not there to fall in love with a stock, just to grab what you can for the moment as you know.

Hope your trading is going well there mate :)

[percy]

Hi Percy :)

Not sure why one would stay tuned for me, unless of course you know about my "what should be" policy over management or directors, which is totally in favour of bringing in Corporate Beheadings so they either get it right, or step down, or dont step up in the first place if they are not competent. May sound crazy to most, but in all honesty it would save many innocent shareholders from believing half of these crooks, which many of the ASX companies are full of let alone tangent on other parts of the world.

Shasta and I as you know got previously taken for a ride with Uran, but as thats in the past, with regards to investing then I try to make a part of the decision based upon management as well, because if that is not there, then the story does not matter and is trivial not matter what may be.

Doing trades be it day, swing or scalp is a completely different matter, then one should not care less as you are not there to fall in love with a stock, just to grab what you can for the moment as you know.

Hope your trading is going well there mate :)

Hi drillfix.
The "stay tuned "is a bit of fun started by shasta on SPQ thread post No.9.
I am in total agreement with you and shasta on director's past.Always reads as though they can walk on water when in fact a lot have trouble passing water.!!! I usually go to google australia and google in their names and can gain a bit of their history there.
I have had a great year.My large positions in [NZ]EBO,NPX,RYM etc have preformed well.
I have followed shasta,SF,and Hung chung,KW ,and Lizard and taken small positions in a lot of companies in Aussie. Making money and having fun. I am mindfull that it has been easy of late.Thanks for asking,and I note by your posts you seem to be having fun again.

[percy]

thanks shasta,
I have done so well with your other research,I brought a few GMM today at 15cents.

[shasta]

thanks shasta,
I have done so well with your other research,I brought a few GMM today at 15cents.

GMM - December Quarterlies

Activities Report

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=525999

Cashflow Report

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=526000

UVs Basin - Potash project has had some drilling during the previous quarter, expect to see a drilling campaign in 2011

Shoemaker (GMM 50%, earning 80% off GXY) - Iron Ore & Manganese drilling coming up in this quarter

GMM had $2.7m cash @ 31/12/10 (nice to see interest rec'd alone covers the admin costs, & the bulk of money spent was for drilling!)

[shasta]

GMM up 3c today to close at 17c

Last 5 trading days turnover is around 1m in total, & 4m went through today

ASX sends a "please explain" & as per usual the company knows nothing.

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=531928

Someone building a position (SSH tomorrow?), or the results in the lab have been text around the traps?

I sense an ann tomorrow or Monday with some good potash drill results

[drillfix]

GMM up 3c today to close at 17c

ASX sends a "please explain" & as per usual the company knows nothing.



Shasta,

The simple reason for todays rise is that Treasure Hunter on HC has been Babbling out his stock picks or finds as usual, and then his ARMY of punters who buy whatever he says regardless of what it is, just buys it up, of course, once he himself has got himself set.

Now dont get me wrong, TH is likely a fine guy and its not a dig at him, and I think GMM as you do is a fine upcoming company with a great deal of prospect, but as soon as the TH army jump in, things happen (SP spikes), and the timing of the stocks natural progression IMO becomes "out of wack".

Meaning, yes he does have a following and yes people follow his and his words like gospel, and even invest on the fact that because TH has got set that they will buy in not caring for the company and what it does, but because they will trade the Treasure Hunter Crowd who also buy in. Once that is done and a certain % reached they kick back and wait for the next call.

Eventually, if the fundamentals dont appear, shine, or grow or become to how they were painted to be, the stock will fall back into its speculation box where it came from.

Shasta, you picked this stock ages ago, and when you posted this GMM thread, some here bought in, some wanted too and waited (like me) and then GMM has sit around 12 - 15c there abouts for weeks upon end.

Now enter the the TH and BANG off it goes, with Captains, Lieutenants and all the troops to support the surge with the exception that somebody with big pockets is slapping the stock back down at 18c.


Can somebody from this forum kindly go ask TH how long has been Banging his head on this one for?? or perhaps just say to him: GO FIGURE

ps:
I know many here like TH, and I do too, BUT, I completely disagree with the Moronic HC squad and troops of idiots with too much money are aiding in companies getting speeding tickets. (yes it is true, check all the threads and SP action - ASIC reactions) Simple really.

[trackers]

This ^

I'm out as of yesterday. There's no current drilling in Mongolia so yesterday's jump was punters jumping onboard the Mongolia Potash story (see FMJ which I was going to buy a month ago at 0.60.....).

They're drilling for Manganese soon but I doubt the drill has even hit the ground there yet.

My potash watchlist has performed unbelievably since about mid-Jan

I like this share mid/long-term but I'm going to wait for solid drilling results before I'll look at a re-entry

[drillfix]

Looks like both the speeding ticket and TH has done this stock wonders.

All the TH disciples with deep pockets controlling this stock atm.

What or why are things different this week compared to last week, or even last month for that matter?

Obvious reasons of course.

[shasta]

Looks like both the speeding ticket and TH has done this stock wonders.

All the TH disciples with deep pockets controlling this stock atm.

What or why are things different this week compared to last week, or even last month for that matter?

Obvious reasons of course.

It will also be running on the back of AGR (formerly NMN), ive mentioned this stock many times, check the chart shes a beauty

[drillfix]

AGR = Aguia Resouces.

Well, the chart was good while it lasted, but now seems the 60 minute chart is heading south.

Has had a huge run prior to the Gap up on on 19th of Jan 2011 at 55c

Still dont quite understand how the two stocks tie in though Shasta? was one a spin off?

[trackers]

Whooooops...

[drillfix]

Whooooops...

Whoopsss too, I posted in the wrong thread trackers, I thought this was PEX for some reason.

Dont let the TH army both ya mate, plenty more trades around to nab rather than watch those w@nkers pump the price up.

ps:

Watch for the late Friday sell off too (depending on market condition).

[shasta]

AGR = Aguia Resouces.

Well, the chart was good while it lasted, but now seems the 60 minute chart is heading south.

Has had a huge run prior to the Gap up on on 19th of Jan 2011 at 55c

Still dont quite understand how the two stocks tie in though Shasta? was one a spin off?

NMN, now AGR is a Potash play in Brazil, ive previously mentioned GMM & NMN in the same breath :)

Heres a recent presentation

http://stocknessmonster.com/news-item?S=AGR&E=ASX&N=181875

Do a search in Sharetrader for NMN, & you'll see my previous comments about it

[drillfix]

Hi drillfix.
The "stay tuned "is a bit of fun started by shasta on SPQ thread post No.9.
.

Hey Percy, bet your having a great deal of fun the past couple of days with this one :P

Guess I had my chance but never coughed up at 15c like you, but ahh well, another slips past and can always trade swings.

[shasta]

Hey Percy, bet your having a great deal of fun the past couple of days with this one :P

Guess I had my chance but never coughed up at 15c like you, but ahh well, another slips past and can always trade swings.

GMM - Additional funds raised to accelerate Potash & Manganese exploration projects

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=533369

Placed at 17.5c - which isnt to bad considering GMM was at 13/14c before its mad run

[shasta]

GMM - Additional funds raised to accelerate Potash & Manganese exploration projects

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=533369

Placed at 17.5c - which isnt to bad considering GMM was at 13/14c before its mad run

GMM - Presentation

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=534530

GMM entered the Low EV list @ 13c & even at 21c currently EV is a mere $6.5m

[shasta]

GMM - Contractor commissioned for potash exploratory drilling in the Uvs Basin in Mongolia

Uvs Basin Project - (Potash; lithium & potassium brines exploration - GMM 100%)

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=544149

GMM currently up 2.5c to 17.5c (EV < $5m)

[percy]

GMM - Contractor commissioned for potash exploratory drilling in the Uvs Basin in Mongolia

Uvs Basin Project - (Potash; lithium & potassium brines exploration - GMM 100%)

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=544149

GMM currently up 2.5c to 17.5c (EV < $5m)
shasta,thanks for the update.I hold, but had deleted from my watchlist by mistake.

[shasta]

shasta,thanks for the update.I hold, but had deleted from my watchlist by mistake.

GMM - RC drilling program successfully completed at the Shoemaker project in Western Australia

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=545452

30 hole RC drilling stage 1 completed, now to await the results

I have enough Potash plays on the LOW EV list so GMM has gone off it, & i like PEM's more advanced Lithium project

[duncanjones]

Shoemaker results due mid July at the earliest due to delays at the lab. Potential increase of Shoemaker resource as well as agreemend was signed 2 years ago on July 8th and had an option to increase if spent $1 million on exploration within 2 years so that could come at any time. Mongolia drilling to start sometime in July/August as well. Potential for further Mongolia acquisitions as well. Exciting few months for GMM hopefully!

[duncanjones]

GMM
Just a reminder if you like to be in small caps before results, GMM has results due out tomorrow or friday (next week on off chance its delayed) for its Shoemaker project (1st stage rc drilling) which is targetting high grade iron ore and manganese.

Also at any time in July or August we are also expecting GMM to announce that their Mongolian Potash project is about to begin drilling which given the recent Mongolian frenzy should really set this share alight!

Click here for details about Shoemaker drilling. (http://asx.com.au/asxpdf/20110516/pdf/41yp262z8dl9d6.pdf)
Click here for details about the Mongolian Potash project. (http://asx.com.au/asxpdf/20110603/pdf/41z0sgpt91148d.pdf)
Latest Investor Presentation (http://asx.com.au/asxpdf/20110322/pdf/41xlfw528l9dxy.pdf)


GMM Details:
* 63mil Ordinary Shares
* 12.7mil Options
* Market Cap @ 17c = $12.9mil
* Cash On Hand = $3.6mil
* Value of Potash & Shoemaker Projects = $9.3mil (at 17c)
* Directors own 14% of the company, will do anything they can to not dilute shares.
* Recently did a placement at 17.5c to advance Potash project.

---------------------

Definitely think this is a buy, tightly held share registry with directors who own a chunk of the company and some big upside if Shoemaker comes through in the next week, with limited downside due to the Mongolian potash drilling.

[drillfix]

OK DJ, nice post.

Mate, you would make one heck of a good car or vacuum cleaners salesman :P

On that note, I am now in @17.5c Lets see how this pans out hey :)

[trackers]

Tempted also but not enough volume for me :D

[drillfix]

Your not wrong there Trackers, but thats also the point, when or should the volume do come, it gives you the perfect easy exit...LOL

Of course, unless you are going very long on the stock being a longer term holder.

[trackers]

I more meant that I was hoping for volume to light the way about whether the drill results were any good...in advance :D

[drillfix]

I more meant that I was hoping for volume to light the way about whether the drill results were any good...in advance :D

Ahh, you mean the leaky boat syndrome. Guess they cant be that far away but nothing leaked by the looks of things so far :P

[shasta]

GMM
Just a reminder if you like to be in small caps before results, GMM has results due out tomorrow or friday (next week on off chance its delayed) for its Shoemaker project (1st stage rc drilling) which is targetting high grade iron ore and manganese.

Also at any time in July or August we are also expecting GMM to announce that their Mongolian Potash project is about to begin drilling which given the recent Mongolian frenzy should really set this share alight!

Click here for details about Shoemaker drilling. (http://asx.com.au/asxpdf/20110516/pdf/41yp262z8dl9d6.pdf)
Click here for details about the Mongolian Potash project. (http://asx.com.au/asxpdf/20110603/pdf/41z0sgpt91148d.pdf)
Latest Investor Presentation (http://asx.com.au/asxpdf/20110322/pdf/41xlfw528l9dxy.pdf)


GMM Details:
* 63mil Ordinary Shares
* 12.7mil Options
* Market Cap @ 17c = $12.9mil
* Cash On Hand = $3.6mil
* Value of Potash & Shoemaker Projects = $9.3mil (at 17c)
* Directors own 14% of the company, will do anything they can to not dilute shares.
* Recently did a placement at 17.5c to advance Potash project.

---------------------

Definitely think this is a buy, tightly held share registry with directors who own a chunk of the company and some big upside if Shoemaker comes through in the next week, with limited downside due to the Mongolian potash drilling.

Dont forget the Lithium "alliance" with GXY in Mongolia ;)

[drillfix]

Dont forget the Lithium "alliance" with GXY in Mongolia ;)

Ahh Bonus, what a memory you have there. If in doubt, ask the Encyclopedia of Shasta :P

[duncanjones]

GMM Chart:
http://www3.picturepush.com/photo/a/6086396/img/6086396.png

[drillfix]

GMM Chart:
http://www3.picturepush.com/photo/a/6086396/img/6086396.png

Good to see another ProRealtime user posting charts Duncan.

Mate, not too sure about Doji's actual affect whilst trading in a range, more times than often after big runs up or down when they present themselves seem to give clear direction. Yet whilst in the Chop so to speak, tend to give false signals although this does not mean that this will not play out, but rather so it just means less chance compared to the higher and lower runs when appearing.

Anyway, not really gospel but rather point of view and view of some of the Steve Nison sessions I had previously followed a while back.

Cheers for the chart "_

[shasta]

GMM - Potash exploratory drilling started at the Uvs project in Mongolia

http://stocknessmonster.com/news-item?S=GMM&E=ASX&N=553988

Uvs Basin Project
(Potash; lithium & potassium brines exploration - GMM 100%)

The deep potash exploratory drilling has commenced as planned and this program is expected to take about 4 months.
The Company commissioned a reputable international drilling contractor for 3,000 to 5,000 line metres of potash exploratory drilling to an average depth of 1,000 m per hole targeting bedded potash as a primary exploration target.


Seems a fairly decent drilling program, worth adding onto the watchlist should they hit some high grades, remember with regards to Lithium, ASX:GXY has an alliance with GMM, so anything promising out of this drilling campaign could attract GXY's interest.

Disc: Nil

[duncanjones]

You still on board drillfix?? Looks like i posted too early and made you pay up, been crucified in the last month sorry. No shoemaker results out either which quite points to them being average results.

I'm still holding and looking forward to the 4 months of potash drilling.

[drillfix]

You still on board drillfix?? Looks like i posted too early and made you pay up, been crucified in the last month sorry. No shoemaker results out either which quite points to them being average results.

No Duncan, I never ended up buying in amongst all the previous carnage, although I have been watching off and on and its not the most liquid stock around anyway which means once your in, your in, and in for however long so it sure is a more longer term play.

[percy]

Well the bottom draw GMM that I forgot that I owned are on the move.
Can't remember what I paid for them..!!!????

[percy]

Well well well,what a lovely surprise.Trading Halt.
Exciting times.
Am well positioned.!

[Aotea]

Great news...have a decent holding in GXY, and this is a nice progression towards good profits for both parties!!

[percy]

Well Yahoo show the sp is up over 1638.10% in the past year.
My nerves gave out and I sold half my holding today at .705 cents.

[Aotea]

Well Yahoo show the sp is up over 1638.10% in the past year.
My nerves gave out and I sold half my holding today at .705 cents.

Good stuff and well done..always good to take profit at a sensible time. Have been mulling the same over on my GXY and NMT holdings.

[percy]

Good stuff and well done..always good to take profit at a sensible time. Have been mulling the same over on my GXY and NMT holdings.

I never really know what to do when a company, such as GMM have such a big run.
Theory says let your profits run,but too often I have seen those profits disappear,so being a coward I sold half.

[Aotea]

I never really know what to do when a company, such as GMM have such a big run.
Theory says let your profits run,but too often I have seen those profits disappear,so being a coward I sold half.

Nothing wrong with taking profit and being free carried...i would have done the same if I had something better to move into..right now nothing is jumping out.
good for you, a retrace is very possible and you're laughing into that can of VB

[percy]

Nothing wrong with taking profit and being free carried...i would have done the same if I had something better to move into..right now nothing is jumping out.
good for you, a retrace is very possible and you're laughing into that can of VB

I have been taking a bit off the top,both in NZ and Aussie.
Was looking to have a bit of a sell down in May,but seem to have achieved the cash holding I was looking for already.
PS.Yes I do enjoy a VB.!

[macduffy]

I never really know what to do when a company, such as GMM have such a big run.
Theory says let your profits run,but too often I have seen those profits disappear,so being a coward I sold half.

Probably a good move in these heady days, percy!

Lion Selection Fund's man has something to say about lithium markets in this recent video.

https://www.livewiremarkets.com/wires/31303

[percy]

Probably a good move in these heady days, percy!

Lion Selection Fund's man has something to say about lithium markets in this recent video.

https://www.livewiremarkets.com/wires/31303
Thanks for the link.An interesting listen.
I was talking to a very experienced broker on Wednesday morning.He too is bullish on gold.
I have a history of getting gold stocks wrong,so I will stay clear of them.