Unfortunately I sold that lottery ticket with most of my other gold and silver stocks. One of these days metals stocks are going to take off and I'm going to have to scramble to catch up but right now I don't have much exposure.
GPD. Biggest thing they have going for them is mgmt. Experienced and putting their own money into the company. Their Brewery Creek prospect looks pretty solid. This year's drill program should determine if it becomes a mine.
DB7 RE GPD.TO/GPRXF Thanks you. U put me on the dig with that post. Finally found some weakness. Just took 50k GPRXF at .50
First I like the mgt as I think Bobwins mentioned. They are very neg on dilution.
Royality Pmts now $1mill/yr & growing to 10k oz gold/yr net in 18 to 36mths
Just out 43-101 demonstrates a high quality, low cost project
Fully permitted Brownfield should start Phase 1 production by Q4 2013 .... 30 - 40k oz for 3-4 years at a CAP EX of 25-30 million 3 offers to finance are on the table for a choice by May 12 w/PR from the company.
Cash cost for Brownsfield leach pad restart 500/oz
Bigest land holder and Next producer in Yukon. They are actually one of the few companies with infrastructure NOW in the Yukon and are able to drill 12 month a year. 2012 40k meter drill prog Budget 18mil.
Phaze2 2nd mine - million oz open pit oxide 125k/year initial pour 2015 cap ex 100 - 140 m PEA for Phaze2 EOY 2012
Phaze3 Sulfide plant Hi Cap ex for mill
19million in cash with a market cap of 70 million puts the EV at $50 million.
Bottom line. Large upside grown organically from 50m Might take a while to get going but I like it.
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