I don't think this badge is a sweetheart or such either. The fretting looks hand done judging by the photo which I magnified, edges on the reverse show some rough edges from the process. I really think it was done after the badge was made. Of course this badge could well have been worn by an officer, but also an OR for a fancy walking out badge or a retired Gael to wear as a civilian as well. As for the GM base metal, only some restrikes/fakes were made of this metal to my knowledge.
CB
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"We seldom learn the true want of what we have till it is discovered that we can have no more." Sam. Johnson
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