CybeRelease: (OTC: GNLM) Gets Buy Rating With Target Price: $2.00
(CybeRelease, May 8, 2007) – Lake Harmony, Pa. - General Metals Corporation (OTC BB:GNLM) (Frankfurt: GMQ.F) (the “Company”) announced that Onyx Equity Research has initiated research coverage on General Metals effective May 4, 2007.
Stanley Moss, MBA - Research Analyst initiated coverage with a “BUY” rating and a net present valuation target of $2.00. (See page 11 of the full report.) For a complete discussion, the full report can be accessed through the following link: http://www.generalmetalscorporation.com/i/pdf/gnlmmay2007.pdf. This is the third such report received by the Company in the last several weeks. Please see Research Reports on our website http://www.generalmetalscorporation.com
Mr. Moss stated that: “We like the fact that the Independence Mine is located as an island in Newmont Mining’s Phoenix Mine, which contains 8.5 million ounces of gold and 660 million pounds of copper as reserves, is another plus. www.newmont.com General Metals experienced management team who have successfully started and operated similar mining projects gives us a good level of confidence.”
Mr. Moss continued: “The Company can be a near-term producer with cash flow from existing tailings and surface or near surface minerals that can be brought to production quickly. In addition, indicated mineralized materials with greater concentrations of gold and silver at deeper levels (The Deep Target) provide a substantial value for future development. The recent addition of Dan Forbush, CPA, MBA as CFO, with his successful development background as former CFO for Glamis Gold, should enable the Company to attract substantial equity financings.”
We cite from page 5 of the Report: “While the surface mineralization provides a short term operational opportunity, a significant amount of gold exists in the Wilson Deep Target. Definition of this target comes from eight deep holes drilled since 1985. Gold mineralization in the deep area occurs between depths of 2,000 and 3,340 ft. Average gold concentrations range from .073 opt to 0.431 opt; or some ten to forty times the concentrations in the shallow target. This mineralization concentration is reflected on the drilling results table shown on the next page. (See Page 6)”
To view the full release, go to http://biz.yahoo.com/iw/070507/0248944.html
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Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor’s reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A third party has hired and paid CybeRelease $995.00 for the publication of this report. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation and do no trading of any kind.
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