Wall Street Transcript Interview with Daniel J. Forbush, President, CEO, CFO and Director of General Metals Corporation (GNMT)
67 WALL STREET, New York - December 3, 2013 - The Wall Street Transcript has just published its Gold and Precious Metals Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Precious Metals - Lower Gold Price Environment - Precious Metals Exploration and Production - Increasing Capital Expenditures - Emerging Markets Silver Consumption - Mining Safety and Environmental Concerns
Companies include: General Metals Corporation (GNMT) and many more.
In the following excerpt from the Gold and Precious Metals Report, the President, CEO, CFO and Director of General Metals Corporation (GNMT) discusses company strategy and the outlook for this vital industry:
TWST: Has it been possible for the company to take steps to increase shareholder value amid all of the volatility in the price of gold?
Mr. Forbush: Yes, we've taken a number of steps to increase shareholder value, and we will be doing some additional ones. An analyst report recently indicated that our company is severely undervalued. We anticipate a positive reception for that report. We are engaging some IR and PR firms to help get our story out that will begin as soon as our funding is secured. Right now we are working on the funding.
Our biggest hindrance to increasing shareholder value at the moment is that the market is perceiving that our lack of funding is going to cause us to have an issue. We are increasing shareholder value by getting the funding necessary to take the project to the next step, which I believe is the number-one way to increase our shareholders' return. The recent analyst report indicated that the target value of the company, and therefore the project exceeds $25.
Currently we have got 16 million tons of rock that we could use in the measured and indicated categories, so we've just got to show the marketplace that we can actually get to that end result, and the minute we are able to do that, I think, we will unlock a significant amount of shareholder value. I think people saw our Open Gold transaction, which has been recently canceled, as unlocking that and gave us a $0.03 a share approximate on price right after the announcement of that transaction. So I suspect that the market is just waiting for funding, and they will give us an even greater increase in value.
TWST: Looking at your core asset, which I believe is the Independence mine, how far away is it from production? What are your targets for the project?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
