What?
Tonight we look at an intriguing early-stage project that has had 17,000 m of drilling – a high-grade Gold mineralized mesothermal quartz vein system in the historic 160-km long “Juneau Gold Belt” of southeast Alaska. Historically, more than 7 million ounces of Gold were mined from this prolific district.
Coeur Mining (CDE, NYSE) reactivated the district in 2010 by reopening its Kensington Gold mine, located northwest of this project. In addition, Hecla Mining’s (HL, NYSE) polymetallic Green’s Creek Mine, a massive sulfide deposit containing Silver, Gold and Zinc, is located on a parallel trend 20 km to the west.
This project has close proximity to power, tidewater, a highway, and skilled labor. Past drilling yielded numerous multi-ounce Gold intercepts on multiple veins. Highlights from 1 vein include:
Hole DDH 11E-2 = 15.3 m of 37.07 g/t Au
Best of all from an investor standpoint, this project is now 100%-owned by a company with a market cap of just $2.3 million!…
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Hi Dan,
Not to rain on the parade but the 50% jump was on only 59000 shares. Not much public float. That’s an advantage when you own shares but a disadvantage when you try to accumulate a position. Insiders (Pinetree about 2,600,000 shares)and management (about 2,600,000 shares also). Management has skin in the game which is a good sign. I don’t trust Pinetree as they dumped other holdings heavily during the bear market capitulation. Hopefully they are done and won’t bail out on GPG if the stock gains some traction. There were 22 placees in the April PP for 5,000,000 shares at $.05 and a full warrant! exercisable at $.075. The PP should be free trading this week. Do you have any idea who the placees were? Who took down most of the paper? I wouldn’t chase GPG here. We could get dumped on at anytime by warrant clippers and GPG could be under $.10 in the minutes that it will take anonymous to dump 100,000’s of shares and leave us holding the bag.
GPG is a very intriguing prospect which I would like to take a shot at but the above situation could do with a little clarity. What do you think? Bid under a dime and get nothing or try to buy in the teens and get dumped on?
Also another capital raise must be done. Perhaps when you interview management we could get some clarity on that as well. Can they do a PP at a better price than under a dime? and no full warrants!
Keep digging. I like some of the prospects you are finding for us.
John
Comment by John — July 17, 2016 @ 9:55 pm
Thanks John! I agree with your comments overall. And I will work toward getting your questions answered. If and when GPG goes down I’d see that as a positive for potential buyers.
Comment by Daniel — July 18, 2016 @ 4:41 am