RE:price Gentlemen:
Some comments: Let's keep this board a positive place! Several of you bring valuable comments to the table, and I really appreciate them. Especially from Blue Chipper. We can learn from each other! Let's keep the comments coming.......
My thoughts:
1)It is ludicrous for anyone here to suggest Eric Sprott would be selling any of his stake in GLM on the recent PR results. Anyone who legitimately wonders on that possibility shouldn't be investing in Juniors like GLM, so, in an effort to keep this post positive, I'm going to assume there's no hidden agenda, and the post was put out there in disbelief of stock price and the obvious frustration that it created for the person.
2)Its obvious to me that someone with a wack of shares, or several holders, over reacted to the PR results based on inexperience, or lack of patience. Or both. As was commented on a previous post by someone (can't remember who.....) but was posted, the investors that whimsically dump on lack of true knowledge and understanding,these are the same investors that buy a stock up beyond proper valuations without knowing they over bought. There's no getting rid of them, but I guess they have their place in the cycle. Im hoping they all show up when my target is met and I'm selling!
Let's Focus on the Fundamentals:
We are so early on. There's going to be a steady stream of information coming regularly in the coming months that will start to slowly create a picture, each PR a piece of the puzzle. It's anyone's guess if there's an economical deposit or not. But we do know some basics here that cannot be ignored.
1)The area is prolific, and known history with old mine sites dotted all over the property.
2)Eric Sprott who has a pretty proven track record, and has been extremely successful seems to like the opportunity to be in the play.
3)We do have both Carlin & CRD deposits co-existing.
4)There is a proven high grade mineralization within the structure, this is substantial to the cause, our likelihood of success now is much more probable. This derisks us somewhat.
5)We have the money on hand to see what we got in the ground.
Anyone investing in GLM needs to know how gold is extracted in open pit mines like the typical Carlin/CRD deposits in Nevada. Heap Leaching. And if you haven't researched Heap Leaching you really need to. There's tons of info, including information from the US Geological Survey. I suggest anyone who is nervous about GLM's recent PR needs to do more DD.
Heap Leaching is cheap and effective on low grade high tonnage applications. In most cases, mines can operate with average grades of 1.5G/t
We are now following down a highly mineralized zone and we are following a deposit that, at present, is showing us 4-6 times the grade that could be economical. Now, how big is it? Well, that's what real investors are going to stick around and find out.
My only problem with this whole scenario is I was all in on GLM before the overreaction on the PR, now here I am wishing I could really chow down on these ridiculously cheap shares! Oh well, my boat is loaded with GLM and im ready for the ship to set sail, when IT'S ready! I will wait and not overreact.....
Patience People!
GLTA
PonyBoy Outsider