BrightRock Gold Corp (BRGC)

[prokopton]

Even for my lottery stocks, I tend to stay away from mining start-ups. But what attracted me to GGCO was that it was already producing gold.

January Production Results
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Feb. 12, 2013 "...the company produced 684 grams during the month of January. Production in January was approximately 12 days, with typical full production month being 20 to 22 days... Management is confident that it will still attain its forecast of a 20% increase in production for the first quarter of 2013 over the same period last year. This will be achieved with the completion of its move to what is believed to be a much more productive area."


( 684 / 12) x 21 days = 1,197 grams. 1,197 grams = 42.2 ounces per month.

$1,577 per ounce current price x 42.2 ounces = $66,549 per month.
12 x $66,549 = $798,588 per year of gold production.

Even assuming 20% sequential quarterly increase, the company is expected to only produce over $1.2 million of gold per year.

But,

Robert Kirkcaldy , COO states, "We look forward to completing the move and getting all of our equipment working together optimizing our alluvial production. I expect March we'll be able to share production output reports with some great results."

We'll see.