10:30 am Pacific
GoldQuest Mining (GQC, TSX-V) was halted an hour-and-a-half prior to the opening bell this morning, pending news. At this point, it appears almost certain any news today will not come out until after the market close.
Up until this point in the GoldQuest story since news of the Romero discovery in late May, the stock has not once been halted despite some very significant assay results. So whatever the news is that’s coming, our assumption is that it’s BIG.
On Saturday, Jon had a 1-hour conversation (interview) with Everton Resources‘ (EVR, TSX-V) President Andre Audet. Everton is one of three juniors with large land positions (30,000 hectares, the maximum allowed) in the Dominican Republic. Audet made it clear that majors are looking at the DR more seriously than ever, especially in light of GoldQuest’s discovery and recent exploration success enjoyed by Unigold Inc. (UGD, TSX-V) which has a promising project about 40 kilometres north of GQC’s Romero discovery. Of course Everton is right on the doorstep of the Barrick/Goldcorp massive Pueblo Viejo deposit – a $4 billion project that’s scheduled to go into production this summer (both EVR and UGD are up today).
Our guess is that GoldQuest may surprise the market with some sort of a deal with a major. The DR is one of the most attractive mining jurisdictions in the world (it’s easier to get things done there than in many other places), and supply is limited in terms of land and available properties. While GQC is still in the very early stages at Romero, if it’s going to be a “monster” then it makes perfect sense to us that there could be a company out there that would want to strike a strategic arrangement of some sort with GQC before more drilling makes this a potentially much bigger deposit. And Chairman Bill Fisher is just the kind of guy who would entertain such an arrangement if he thought it would help increase shareholder value, keep future share dilution to a minimum and provide immediate added credibility.
Below is an updated GoldQuest chart from John that’s looking very bullish in advance of the pending news.
Note: John and Terry do not hold share positions in GQC (Jon does).
WOW !!!!
Goldquest Mining Corp (GQC:TSXV) – News Alert
GoldQuest Intercepts Significant Mineralization at Romero, Dominican Republic; Includes 258 Metres Grading 4.5 g/t Gold and 1.3% Copper and an Upper Section of 55 Metres Grading 1.25 g/t Gold
GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) (“GoldQuest” or the “Company”) is pleased to announce the assay results of hole LTP 93, the third vertical hole into the Romero discovery, within the Company’s 100% owned Las Tres Palmas trend in the Dominican Republic.
Comment by Bert — July 30, 2012 @ 10:10 am
news out… monster holes!!!
Comment by Jeremy — July 30, 2012 @ 10:27 am
can anyone do a quick 43-101 back of napkin calc based on the numbers so far..??? comaring it to Richfield buyout at 550 mill …. GQC is now valuated at almost 200 mill … and the intecepts are much better… RVC’s 43-101 was just under 2 mill oz….
metrics are wonderful arent they!!:)
Comment by Jeremy — July 30, 2012 @ 11:18 am
Jeremy, will GGC save you from bankcrupcy?
Comment by Alexandre — July 30, 2012 @ 11:31 am
Last week, I purchased some more RBW, and I invested in some more RIC.
Comment by Alexandre — July 30, 2012 @ 11:32 am
Alexandre … if I hadnt sold the 40K of GQC at 28…. the answer would be yes:) with the holes that have been reported, and albiet it is only 3 holes on a 25m step out, but one may have an inkling of the resource size based on grade, and approximations… like a 1/5/10 mill oz resource….
many assumptions for sure… but this ‘feels’ like an aurilien type resource… and blackwater (RVC) for that matter….
so thats why I was asking:)
Comment by Jeremy — July 30, 2012 @ 11:54 am