Gold X Mining Corp. GLDXF

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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. > After 8 years such a joke offer!

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Comment by VENManon May 11, 2020 8:35pm

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Post# 31014698

RE:RE:After 8 years such a joke offer!

I think the reason for the offer price is that what you have here is a resource. As i understand it and if i'm wrong sorry but a resource is a calculated amount of material in a mineral deposit clasified as measured, indicated or inferred. It is not a Reserve which is that part of a mineral resource that can be mined profitably. So you can say we have 15 million ounces in Measured and Indicated Resources but if someone asks how much do you have in Reserves that can be mined profitability? answer zero, therfore a lower offer! I don't know just my 2 cents! Always do your own due diligence. And if i'm wrong and you do have reserves sorry, but you get the concept!

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