Gold X Mining Corp. GLDXF

Metals & Mining Industrial Metals & Minerals

Gold X Mining Corp. is a Canadian junior mining company developing the Toroparu Gold Project in Guyana, South America. Gold X has spent more than US$150 million on the Project to date to classify 7.35 million ounces of Measured and Indicated and 3.15 M-oz of Inferred Gold Resources, develop engineering studies for use in a feasibility study, and define a number of exploration targets around Toroparu on its 53,844 hectare (538 km2) 100% owned Upper Puruni Concession.

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Gold X Mining Corp.

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Comment by mjl777on Jul 06, 2015 5:37pm

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Post# 23896108

RE:RE:RE:Frank Giustra

IMO, $0.06 per share less the benefit they will derive from the attractively priced warrants (which stands to negate the investment and much more) is way too cheap. Is the market so bad that they couldn't raise $5.0 million at $0.08 and dilute 30% versus 39% plus the dilutive effect of the cheap warrants? What's the purpose of the PNO acquisition other than obfuscation? Eight person board of directors? I've seen this picture before. SSP is about to be milked.for the benefit of a powerful few. Unlike ordinary shareholders, insiders will get lots of cheap options to cushion the impact of dilution. So, you're right. I think they considered it closely and they could see that it was a good deal for everyone but ordinary shareholders.

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