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I just got in with a small amount. 
After years of this holding being essentially dormant it has come to life again in the year. It's now salted away some reserves of cash for future buying should we see a reversal in fortunes.
Best wishes,
OAG Tom
GCM News $15 Mil. Eric Sprott Investment
T.GCM |
TORONTO, Oct. 30, 2019 (GLOBE NEWSWIRE) --
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) is pleased to announce
that Eric Sprott has agreed to purchase 3,260,870 Units of the Company
in a non-brokered private placement (the “Private Placement”) at a
price of C$4.60 per Unit, representing a 4% discount to the five-day
volume weighted average price of $4.79 for the period ended October 29,
2019, for a total investment of $15 million.
The proceeds of the Private Placement will be used for general working
capital and corporate purposes.
Closing of the Private Placement is subject to the receipt of
regulatory approvals, including the Toronto Stock Exchange, and is
expected to close two business days following receipt of such approval.
Each Unit consists of one common share and one common share purchase
warrant exercisable into a full common share at $5.40 per share for a
period of four years from the date of issuance.
Serafino Iacono, Executive Chairman of Gran Colombia, stated, “On behalf
of the Board and Management of Gran Colombia, I am pleased to welcome
Mr. Eric Sprott as a major investor in our Company.
Our success in the turnaround of Gran Colombia has led to an increase
in gold production, earnings and free cash flow and has strengthened
the Company’s financial position.
In September, we were recognized in the inaugural TSX30 based on the
increase in our share price over the last three years.
We see the investment by Mr. Sprott, a well-known gold investor, as
solid endorsement of the potential for further appreciation i programs
at our high-grade Segovia Operations with approximately 70,000 meters
of drilling over the next 1n Gran Colombia’s shares.
We are about to ramp up our near-mine and regional exploration 8 months
and we are unlocking value in our Marmato Project through a spin out
to a separate-listed vehicle, in which we will maintain a control
position, to fund a major underground mine expansion.
We look forward to the relationship with Mr. Sprott as we continue to
execute our strategy.”
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based mid-tier gold producer with its
primary focus in Colombia where it is currently the largest underground
gold and silver producer with several mines in operation at its Segovia
and Marmato Operations.
Gran Colombia is continuing to focus on exploration, expansion and
modernization activities at its high-grade Segovia Operations and,
through a spin out transaction with Bluenose Gold Corp. announced on
October 7, 2019, Gran Colombia is progressing toward a major expansion
and modernization of its underground mining operations at
the Marmato Project.
Additional information on Gran Colombia can be found on its website at
http://www.grancolombiagold.com
and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 27, 2019 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
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
flemsnopes still in? - Beware: Gold Will Be Seized! Ten Reasons Why The Fed Will Take Your Gold -
It looks like that when DJIA going down GOLD going higher -
http://investorshub.advfn.com/DJIA-Dow-Jones-Industrial-Average-BIG-BOARD!-DJI-14664/
- well, I have stayed with the goldstocks -
Because Any fund controlled by banks -
I am scared for to have any savings in ? -
what's your opinion -
all opinions appreciated -
thanks in advance -
ex ... ...
( in reality its more than $1000 trillions - some by Ron Paul said ? ) -
http://rinf.com/alt-news/latest-news/financial-armageddon-approaches-u-s-banks-247-trillion-dollars-exposure-derivatives/
Very Good to see > Gold jumps 2% as stocks drop, Mid-East tensions flare -
By Reuters | 4 Jan, 2016, 10.13PM IST
Post a Comment
READ MORE ON » Gold
CALVF has NO DEBT - paying about 8% dividend -
One of Africa's Lowest Cost Gold producer -
http://investorshub.advfn.com/Caledonia-Mining-Corporation-CALVF-5294/
Read more at:
http://economictimes.indiatimes.com/articleshow/50443290.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
GOLD is long term safety -
when the rest of the market crash - <G)
- Happy New Year -
http://www.caledoniamining.com/pdfs/December%202015.pdf
http://www.caledoniamining.com
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless
!!!
iShares COMEX Gold Trust [$IAU] due diligence
click in the textarea above and press ctrl + c to copy the dd notes to your clipboard
$IAU
DD Notes ~ http://www.ddnotesmaker.com/IAU
##### recent news/filings ~ source: finance.yahoo.com
Tue, 17 Sep 2013 16:32:00 GMT ~ [video] Futures Now: Hold gold into the Fed?
read full: http://video.cnbc.com/gallery/?video=3000200026&__source=yahoo|headline|quote|video|&par=yahoo
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Tue, 17 Sep 2013 15:57:00 GMT ~ Gold: 'Taper This'
read full: http://seekingalpha.com/article/1698772-gold-taper-this?source=yahoo
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Tue, 17 Sep 2013 14:45:14 GMT ~ 4 ETFs to Watch Ahead of Key Fed Decision
[Zacks] - These ETFs could be in focus as the Fed delivers a crucial decision on QE.
read full: http://finance.yahoo.com/news/4-etfs-watch-ahead-key-144514247.html
*********************************************************
Tue, 17 Sep 2013 14:03:00 GMT ~ [video] Gold Traders Await Fed
read full: http://www.thestreet.com/_yahoo/story/12039699/1/gold-traders-await-fed.html?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA
*********************************************************
Mon, 16 Sep 2013 20:54:43 GMT ~ The Future Of Money Is Digital, Not Physical
read full: http://seekingalpha.com/article/1697102-the-future-of-money-is-digital-not-physical?source=yahoo
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##### chart ~ source: stockcharts.com
##### chart ~ source: eoddata.com
##### company info ~ source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/IAU/company-info
Ticker: $IAU
OTC Market Place: Not Available
CIK code: 0001278680
Company name: iShares COMEX Gold Trust
Incorporated In: NY, USA
##### extra dd links
Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001278680&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/IAU/filings
Latest financials: http://www.otcmarkets.com/stock/IAU/financials
Latest news: http://www.otcmarkets.com/stock/IAU/news - http://finance.yahoo.com/q/h?s=IAU+Headlines
Major holdings: http://data.cnbc.com/quotes/IAU/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=IAU+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/IAU.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=IAU
RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=IAU&search=search
DTCC: http://search2.dtcc.com/?q=iShares+COMEX+Gold+Trust&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=iShares+COMEX+Gold+Trust
Corporation WIKI: http://www.corporationwiki.com/search/results?term=iShares+COMEX+Gold+Trust&x=0&y=0
http://www.pennystocktweets.com/stocks/profile/IAU
##### last known share structure ~ source: otcmarkets.com
Market Value: $189,528,000 a/o Sep 16, 2013
Shares Outstanding: 14,900,000 a/o Jun 30, 2007
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value
##### business description ~ source: otcmarkets.com
IC
DD Notes ~ http://www.ddnotesmaker.com/IAU
State Street Can Afford Gold ETF Fee War For a While Yet
By Timothy Wood
Dec 17 2010 9:37AM
ST. LOUIS -- Much has been made of this week’s surge of buying in BlackRock’s iShares Gold Trust [IAU]. Some of it has erroneously been reported as a daily trading volume record, but rather it was a leap in new gold ounces added to the IAU on relatively small volumes.
Bloomberg news reports that around “28 million shares changed hands yesterday in a single block transaction... The trade, which occurred at 1:41 p.m. in New York at $13.6762 a share, was worth about $383 million.”
As of Tuesday this week, iShares reported the addition of 27 million new shares along with 264 thousand ounces taking total net asset value in the Trust to $5.2 billion.
That has drawn a lot of attention to BlackRock as State Street’s SPDR Gold Shares [GLD] new competitive nightmare, and everyone is pinning it on the former’s lower fees that kicked in this past June. IAU has an expense ratio of a quarter point compared with GLD’s two fifths having initially been matched.
Consequently, investors are interpreting the fee cut as the fuel that is driving a significant increase in IAU’s market value. That was underscored by data from EPFR Global showing that between July 1 and October 31, IAU had $685 million in net inflows and GLD had $961 million in outflows.
That does indicate there might be a swap going on though it’s hard too see how the expenses incurred could be reasonably offset by just a 15 basis point difference in expense ratios. It’s more likely that new gold investment flows are going to IAU, and it is evident that GLD’s growth relative to gold prices has stalled. That said, it remains extraordinary compared with gold equities which are wallowing.
There was a resurgence in gold ETF buying in April this year as European sovereign default risks ballooned.
Since April 22 this year IAU has increased its total NAV by $2.33 billion, an 82% increase. Comparably, GLD has “only” improved 39%, but by a whopping $16.1 billion over the same period so the scale makes the comparison rather poor. Gold prices have increased 23% in that time.
However, the differences since 1 July are starker. IAU has grown by $1.9 billion, or 56%, since then compared with $5.2 billion, or just 10%, for GLD. In the same period the gold price has increased by $161 per ounce, or 13%. So GLD is clearly underperforming compared with IAU, and it is well illustrated in Chart 1.
That has raised speculation that GLD will imminently cut its expense ratio in order to stop the leakage to IAU. However, investors should not forget recent history.
IAU became increasingly less competitive with GLD in early 2008, and it was decimated by March 2009. At that point IAU had just 6% of GLD’s total gold on hand. It had more commonly traded at around 10% of GLD’s gold inventory. (See Chart 2)
The declines was clearly a function of the credit crisis having its epicenter in the US, where distressed investors were liquidating assets to stay afloat. When exotic assets had lost their ability to trade, let alone their value, IAU was obviously going to suffer.
IAU should be seen as recovering rather than outperforming at this point. Once IAU’s gold passes 12.5% of GLD’s total it will be time to place bets on State Street slashing fees. Even then, GLD is so much bigger than IAU that it will probably take the risk for a while longer to preserve fee income.
Likewise, GLD has superior liquidity which attracts a substantial premium in markets that remain volatile and risk averse.
So we don’t see much chance of State Street being drawn into a fee war any time soon though things could change quickly if some of the large funds invested in GLD decide to make a point of it.
http://www.kitco.com/ind/TimWood/dec172010.html
Just heard about this ticker on fast money to use instead of GLD so...
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The objective of the trust is for the value of its shares to reflect, at any given time, the price of gold owned by the trust at that time, less the trust's expenses and liabilities. The trust is not actively managed. It receives gold deposited with it in exchange for the creation of baskets of iShares, sells gold as necessary to cover the trust's liabilities, and delivers gold in exchange for baskets of iShares surrendered to it for redemption. The trust is not an investment company registered under the Investment Company Act of 1940 or a commodity pool for purposes of the Commodity Exchange Act.
