SPDR Gold Trust (GLD)

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GCM - New Valuation by Red Cloud Securities (Oct. 29)
Dear all,
enjoy Red Cloud’s latest GCM analysis and have a nice weekend!

Gran Colombia Gold Corp. (TSX:GCM)
Analysis: Derek Macpherson | VP, Mining Analyst
Date: October 29, 2020
Rating: BUY (unchange
Target: C$16.50 (was C$13.00/sh)

Our View

We expect Gran Colombia’s share price to be driven by steady operating
results and exploration success, particularly at Segovia, where the
company is focused on extending the mine-life at higher grades.

Expect Q3/20 to be a record financial quarter.

Gran Colombia reported another solid quarter of operating results in
Q3/20, despite facing COVID-19 related challenges at Marmato.

We expect improved financial results not only from the ~US$200/oz gold
price increase QoQ but also because of operating improvements at
Marmato.

We currently model ~233k oz Au (100% basis) for 2020, suggesting the
company is on pace to meet the top-end of its revised guidance range
(218-226k oz).

• Drilling at Segovia is continuing, results expected shortly.

In our view, one of the keys to Gran Colombia closing the valuation
gap to peers is the exploration success at Segovia.

In particular, we are looking for the company to add high grade ounces
to replace those that have been mined over the last 2.5 years.

The company is actively exploring both near-mine and at regional targets
and while results have been delayed by COVID-19 restrictions, we expect
steady exploration news to resume.

• Marmato PFS largely in line with the PEA and our estimates.

The updated resource estimate for Marmato resulted in 16% more ounces
(M&I+I) and a maiden reserve of 2M oz Au at 3.19 g/t at Au.

Based on the PFS we model LOM average annual production 1,868k oz Au
for 12 years at LOM cash costs of US$864/oz (inclusive of the precious
metals stream).

We model initial capital costs of US$475.6M, of which US$110M is
expected to be funded via the precious metals stream with Wheaton
Precious Metals (TSX:WPM, Not Covered).

Gran Columbia owns 57.5% of Caldas Gold Corp. (TSXV:CGC, Derek
Macpherson) which holds 100% of Marmato.

Valuation:

Drilling results from Segovia should start to drive a rerating.

We maintain our BUY rating and are updating our target to
C$16.50/sh (was C$13.00/sh) due to an increase in our gold price
assumption.

Our valuation continues to be based on 4.0x our one-year forward,
NTM EBITDA estimate of C$327M (was $260M).

Gran Colombia trades at 1.2x 2021E EV/EBITDA and 0.28x NAV versus
peers at 3.0x and 0.53x, respectively.

Upcoming Catalysts:
1) Exploration results (ongoing)
2) Q3/20 Financial Results (Q3/20)
3) Updated Guidance (Q3/20)


Gold Standard Dollar Judy Shelton Warren Buffet Buys GOLD XRP Ripple Digital Gold GSX
212 views •Oct 19, 2020

https://www.youtube.com/watch?v=JMzFlePK6hQ


Gold Debate: Is A New Gold Standard Coming? (Steve Forbes) -
August 23, 2020

https://www.youtube.com/watch?time_continue=157&v=rs1PH_GLi98&feature=emb_logo

Why a return to gold standard is the solution for monetary instability
Oct 28, 2020
Guest(s): Jan Nieuwenhuijs Gold Analyst, The Gold Observer

https://stream2.kitco.com/20_10_19_Nieuwenhuijs_v2_liferay.mp4



Why a return to gold standard is the solution for monetary instability
Market Analysis
Oct 28, 2020
Why a return to gold standard is the solution for monetary instability
Excessive monetary stimulus, a by-product of an “undisciplined” fiat
money system, will create problems for our economy as well as financial
distortions, and the long-term solution is a monetary “reset,” whereby
economies move away from this system and re-adopt a gold standard, said
Jan Nieuwenhuijs, gold analyst at The Gold Observer.
“There are a lot of financial bubbles, there are excessive debt levels,
inequality is rising, you’ve got moral hazards, all ... (read more)


$10,000 Gold Is the Ultimate Endgame, Says Gabelli Funds Analyst
35,417 views •Oct 26, 2020

STANSBERRY RESEARCH

https://www.youtube.com/watch?v=U1e3tOcGMu0


157K subscribers


This year will mark the first year since 1979 to have both gold and the
S&P 500 mark new highs during the calendar year.
Stansberry Research Anchor Daniela Cambone speaks with Gabelli Funds
Senior Analyst Chris Mancini about the significance of this unlikely
occurrence.
Mancini and Cambone also discuss the impact of the upcoming U.S.
presidential election.
"If we see a Democratic sweep, it is more likely we will see a huge
fiscal stimulus and it will be full game on.
The Fed will continue to buy bonds and gold trends up again,"
Mancini said

Caldas Gold and Gran Columbia Gold Undervalued! - Lets Chat With The CEO
2,059 views•Sep 14, 2020

https://www.youtube.com/watch?v=UOB_xz9FzqQ

http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2020/Gran-Colombia-Reports-Third-Quarter-2020-Gold-Production-of-58454-Ounces-Up-4-Over-the-Third-Quarter-Last-Year/default.aspx

RE: These guys are wonderful. One of the best small miners out there. )


Corporate Presentation - October 2020
October 05, 2020
Download PDF (3.96 MB)

http://s21.q4cdn.com/834539576/files/doc_presentations/2020/10/GCM-Corporate-Presentation-October-2020-final.pdf


http://www.grancolombiagold.com/Home/default.aspx



Gran Colombia sees 4% increase in 3Q gold production
Neils Christensen Neils Christensen
Tuesday October 13, 2020 11:02
Kitco NewsShare this article:
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(Kitco News) - Gran Colombia Gold Corp. (TSX: GCM) is on track to meet its annual production guidance after reporting substantial production numbers for the third quarter.

In a report Tuesday, the junior gold miner said it produced 58,454 ounces of gold between July and September, an increase of 4% from the third quarter of 2019.

“The third quarter 2020 production reflects a 21% improvement over the second quarter of 2020 which had been adversely impacted by the COVID-19 national quarantine invoked in Colombia in late March,” the company said in the report.

So far this year, the company said it has produced a total of 162,929 ounces of gold, down slightly compared with 174,754 ounces in the first nine months of last year.

“The Company is continuing to operate normally at both Segovia and Marmato and remains on track with its annual guidance of a total of between 218,000 and 226,000 ounces of gold production this year,” it said in the press release.

By Neils Christensen
For Kitco News


Contact [e-mail]
www.kitco.com

INTERVIEW, SERAFINO & FRANK HOLMES ( US GLOBAL INVESTORS)
Great understanding of the real situation in GCM and CGC.

- https://www.linkedin.com/posts/serafino-iacono-925a09192_caldas-gold-and-gran-columbia-gold-undervalued-activity-6711703744687484928--csv

- https://www.linkedin.com/posts/serafino-iacono-925a09192_best-gold-stocks-for-dividends-2020-ceo-activity-6711703492127461376-gw1a

- https://www.linkedin.com/posts/serafino-iacono-925a09192_this-gold-stock-is-about-to-explode-caldas-activity-6711703334153183232-N6I5

- https://www.linkedin.com/posts/serafino-iacono-925a09192_all-that-glitters-is-gold-and-silver-activity-6711703151336062976-7tv7

- https://www.linkedin.com/posts/serafino-iacono-925a09192_gold-to-4000-and-the-best-way-to-play-it-activity-6711702916459237376-Vl16


Gold & Silver bulls starting to break out > ^ > ^ > ^

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Gold & Silver is the only REAL Legal Tender -

by The Founding Fathers for your -

Rights, Liberty and Freedom -

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God Bless America
Ps.
opinion appreciated
TIA