RE:RE:RE:Denver presentation>> Give it another month or two <<
Yes, in a few months they will be giving guidance for 2018. It's not hard to add the Segovia mine plan 2018 production with Marmato production to get 195k oz. The guidance could go from 150k-160k oz to 180k-195k oz. A big jump in production and a lower cost per oz along with it has a high probability of making the share price jump too. If the share price hasn't already gone up by then.
In the Denver presentation, he sounds confident that Marmato will be their next big mine. No more problem with villagers on top of the mountain by expanding underground mining. That could set GCM up for a very long time.
The upcoming resource update for Marmato will give an idea of how many underground oz there will be. The existing 14m oz is mostly counted as open pit resources. The 2012 technical report counted only very little as underground. Underground uses a higher cut off grade like 1.5 g/t, so not much of that 14m oz may be counted as underground. There is a possibility that the Marmato update would disappoint some people. They would need to count the drill holes from Marmato deep to have a good result. Even if short term the number of underground oz disappoint, longer term more drilling of Marmato deep should greatly increase the oz. The market is giving near zero value for Marmato, so hopefully any disappointment wouldn't be able to subtract much from that near zero value. On the other hand, any positive surprise would be good for the share price. Since the PEA for Segovia was completed long after the Segovia resource update was released, the same may happen for Marmato.
menoalittle wrote:
Agreed, great presentation. Market obviously still doesn't recognize the value here (or it would already be trading higher)... or, maybe it's just patient (aka, smart) accumulators at work on it. Give it another month or two, and maybe some will have figured out which it is.