SPDR Gold Trust (GLD)

[NYBob]

Gran Colombia Gold Corp. (TSX: GCM / OTCQX: TPRFF) – Initiating Coverage – Gold Producer in
Colombia Trading at 2x EBITDA

https://www.baystreet.ca/articles/research_reports/fundamental_research/GCM-Feb-2019.pdf

Sector/Industry: Junior Mining www.grancolombiagold.com
Market Data (as of February 12, 2019)
Current Price C$3.98
Fair Value C$5.62
Rating* BUY
Risk* 3
52 Week Range C$2.02 - C$3.98
Shares O/S 48,173,639
Market Cap C$191.73 mm
Current Yield N/A
P/E (2020 forward) 3.3x
P/B 0.6x
YoY Return 86.9%
YoY TSX 0.2%
*see back of report for rating and risk definitions

Highlights

* Gran Colombia Gold (“GCM” “company”) produced a record high 218 Koz
(thousand ounces) of gold in 2018, up 25% YoY. The company, formed in
2010, operates two mines (Segovia and Marmato) in north-central
Colombia.

* In 2018, Segovia produced 193 Koz (89% of the total production) at a
grade of 17.1 gpt gold, making it one of the highest-grade gold
producers in the world.

* The company’s average cash cost was $674 per oz in the first nine months
of 2018.

* Our 2018 revenue forecast is $270 million (up 26% YoY), and our 2019
revenue forecast is $282 million (up 5% YoY).

* Segovia and Marmato have a combined measured and indicated
resource of 5.12 Moz (million ounces), and an inferred resource of 5.30
Moz gold.

* The company also holds the Zancudo project in Colombia, which is
currently optioned to IAMGOLD Corp. (TSX: IMG). GCM also holds a
18% interest in Sandspring Resources (TSXV: SSP / market capitalization –
C$59 million) – a junior resource company with an advanced stage gold
project in Guyana.

* We estimate the company’s shares are trading at $991 per oz annual
gold production (gold producers’ average – $4,203), $26 per oz
resources (average – $242), 0.8x revenues (average – 2.7x), and 2x
EBITDA (average – 7.95x).

* We are initiating coverage with a BUY rating, and a fair value estimate of
C$5.62 per share.

https://www.baystreet.ca/articles/research_reports/fundamental_research/GCM-Feb-2019.pdf

Gold Extends Early Gains, Sharply Up, As USDX Drops
Tuesday February 19, 2019 10:19
Kitco NewsShare this article:
Live 24 hours gold chart [Kitco Inc.]



(Kitco News) - Gold prices are solidly higher, are at 10-month highs and
are at their daily highs in late-morning action Tuesday.
The yellow metal extended its good early gains as the U.S. dollar index
has dropped from its session high and is now trading below unchanged on
the day.
April gold was last up $16.30 an ounce at $1,338.40.


Gold pushed solidly over the $1335 mark in early New York trading after
a strong showing overseas. It is now trading at $1337 – up $10.00 on
the day. Silver is level on the day thus far. The trade talks between
the U.S. and China scheduled to begin this week are providing impetus
to gold as hopes rise that the two might settle their differences and
pump new life into the commodities market.
Also helping gold is a growing recognition in financial markets that
neither political party is all that interested in addressing head-on
the rapidly escalating national debt.

With gold now pushing past the $1335 mark, precious metals’ analyst John
Rubino says that “from a technical standpoint, piercing $1,350
resistance should trigger a big, fast move to the next resistance level
somewhere in the high $1,400s.”
Crossing that $1350 barrier was problematic for gold in 2014, 2016 and
2018.
Economic circumstances, though, have changed in 2019 –
the Fed’s stated dovish intentions being the chief difference.
We might soon find out whether or not that change is enough to propel
gold over its $1350 nemesis.


Beijing has joined the global gold rush, increasing its gold reserves
for two months - China hoards gold to end USD dominance
121,055 views
RT America
Published on Feb 12, 2019

Beijing has joined the global gold rush, increasing its gold reserves
for two months in a row to more than 59.94 million ounces.
Meanwhile, US State Secretary Mike Pompeo urged companies to limit
their business with Huawei.
RT America’s Sara Montes de Oca reports.

https://www.youtube.com/watch?v=LPVj2qzRR9A

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146724824

Hemke's analysis is headlined
"The Next Goals for Gold and Silver Prices" and it's posted at
Sprott Money here:

https://www.sprottmoney.com/Blog/the-next-goals-for-gold-and-silver-prices-craig-hemke.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]


In GOD We Trust -






http://www.kitconet.com/images/live/au0001wb.gif

Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -

http://www.biblebelievers.org.au/monie.htm

God Bless America
Ps.
opinion appreciated
TIA