Greencastle Resources (VGN, TSX-V), which has become much more active in the Gold exploration space, has jumped 161% since we added it to the BMR Portfolio in mid-October. Given the fact this company is actively searching to add at least one more Gold project to its portfolio (an “advanced” one), the excitement is likely just beginning with Greencastle which ran from 12 cents to 63 cents in its last big run in mid-2008. Greencastle has working capital of approximately $6 million, three quality Gold projects currently, and an oil royalty bringing in over $100,000 per month and valued at over $5 million by an engineering firm a year ago. Today’s close of 36.5 cents gives Greencastle a market cap of only $16.4 million. There’s strong fundamental value here and the company has signaled it’s going to work hard to get the market to recognize that value. John provides a brief technical analysis in the chart below.
