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General Moly, Inc. Message Board

  • acrediblepost acrediblepost Mar 28, 2013 4:22 PM Flag

    Missing Tycoon Mars Overseas Push of China’s Private Businesses ------- funding in serious doubt

    http://www.bloomberg.com/news/2013-03-28/missing-billionaire-casts-pall-on-china-s-private-business-push.html

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    • What does this say about GMO management's judgement? How much due diligence did they perform on Hanlong and Liu?

      • 1 Reply to acrediblepost
      • It says nothing about their judgement. Anyone can look in the "rearview" mirror and say whatever they want to say. Shorts are notorious for this and I am willing to bet you are short. As far as Hanlong, I think it is fair to say that while issues with the Chinese are quite often not very transparent, I don't think anyone predicted this mess. While it has delayed things a bit, as the final story is yet to be told. All commodities are out of favor at this point, not just GMO. As I do think we are in the early stages of a strong bull market, commodities in my opinion are the place I want to be at this point. I am a long term holder of GMO (bagholder to you long term shorts. thank you) and as in the past I believe this management will see this through. They have been in a far worse position in the past.

        Two main things are currently happening, in my opinion. (1) As the U.S. energy infastructure is built out (nat gas, oil and nuclear), high strength steels will come into demand and in turn the price of moly. China is correcting and as their economy improves, overall steel demand will return in Asia.

        As best I can tell, there has been no short term significant insider selling at this point due to the issue with Hanlong. What does that tell you about Bruce Hansen, his team, and the board of directors? The story is still being told...

        GLTA

        Sentiment: Hold

 
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