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Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. The Company is focused on its existing infrastructure and large land position surrounding the mine in Oaxaca, Mexico, and to develop the Back Forty Project in Michigan, United States. Its Back Forty Project has a polymetallic (gold, silver... see more

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Gold Resource Corp > RE: FORTITUDE GOLD

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Post by BullionGirl on Jan 11, 2021 7:44pm

RE: FORTITUDE GOLD

Fortitude just did a private placement of 500,000 shares at $1.00 per share. Proceeds will be used to increase the 2021 exploration budget.

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Comment by jthottam on Jan 13, 2021 12:13am

This is just a theory, but I suspect they just did that to establish a floor value for the shares (possibly to help establish trading value or to aid in establish a cost basis for the remaining GORO shares for tax purposes). In my opinion, I doubt Fortitude really need the cash as it was already flush with cash and was printing money and to do a private placement of that size seems a bit ...more

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Comment by Oilminerdeluxe on Jan 13, 2021 5:00am

Or they have found something outside the original plans worth the money. But I think you might be right. I hope they won't do any more of this though. Hm, I suspect that people might want to get in Fortitude quickly. Will Goro pay the price for it? Hard to know. Hopefully both companies will have plenty of news supporting both shortly. Exciting times for sure.

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