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GDSM could trade to .002+ (read)

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GDSM to Begin Oil Production by Late Aug, Market Cap Only $450,000
Last Updated: Aug. 11, 2013 - 5:00pm EST

(NEW YORK)--Gold Coast Mining Corp (OTC:GDSM), a developer of oil and gas projects, announced its new Kalkaska, MI well could be up and producing by late August 2013.

Oil Production to Begin

On Aug. 06, 2013, the Company announced its first investment with Tiger Development, LLC, for a working interest in their oil well located in Kalkaska, MI. Although not a major project, with plans up to 5% working interest, the company projects production of 40 to 50 barrels of oil per day. Although this may only equate to like $6000 in monthly cash-flow for the company, the deal was done with little to no equity dilution, and holds plans to expand to three or four more wells on this project, which it projects will cover all operational cash-flow needs for the company.

Again, not a major producing project, but this does show that the new CEO behind GDSM is delivering on his promise to bring producing and operational projects under the company holdings. It is expected that this first oil project will be one of many that may be currently working through the pipeline, no pun intended. Production from this first well is expected as soon as late August 2013, and could signal a major turning-point in trader interest in the common stock.

CEO Background

One of the key factors catching attention of traders is the appointment of Michael Shea as the new CEO of GDSM. Mr. Shea has over 25 years corporate finance experience having held Managing Director/Senior Vice President titles at Bank of America's Global and Investment Bank, GE Capital Corporate Finance and Citigroup. For the last five years, Mr. Shea has owned and managed Silvermine Advisors (http://silvermineadvisors.com/), a boutique firm focused on mining and energy.

Shares Structure and Valuation

As of July 01, 2013, the Company had around 904 million common shares issued and outstanding, with a public float just around 850 million. Based on a current price of $0.0005 this gives GDSM a current valuation of just $450,000. Based on plans to begin oil production in late August, plans to become fully reporting, and professional CEO now quarterbacking the company, a price of $0.002 would still only equate to a market cap valuation of just around $1.8 million.
http://www.wallstreetnewscast.com/profile/gdsm.html