GNHSkier you'd rather talk about GBB because you don't need me to post the facts on this board.
I also didn't say $25 million dilution at this price but I said a company that wants to prove out the deposit that GNH does as well other expenses etc. is going to need alot more than the current cash they have.
Come to the GBB board if you'd like to discuss GBB's cores, no need to clog up the board here.
Wow, $100 inst per oz in the ground?
Wouldn't that value them at more than Trelawney is currently getting for oz's in the ground with a 4.2 million ounce deposit?
GBB is currently trading at $25/oz inst. value for their gold ounces, but you have some delusion of grandeur that GNH is going to deserve $100/oz for their 1.5 million ounces?
Honestly if these are the arguments I'm up against then it isn't worth my time posting on these boards.
Ps. Would have been a day nice day to switch up some GNH shares for GBB, but hey what do I know, it's only up 15% today.
The sad thing about this board is that so much B.S. has been regurgitated here so long that investors who don't know better actually rely on information on this board to base their estimates. I have yet to see a gold stock with less than 3 million ounces be given $100 inst. value per oz unless they're a near term producer in the next year or have a super high grade deposit - GNH does not fall in either category.
And yes you caught me, I'm heavily short GNH and I need to cover at 16 cents so I'm bashing here daily to cover.
If you looked through my recent posts you'd see I never bash and this is my first time doing so because I actually feel bad for the investors here getting fleeced on a daily basis by GNH and still holding unfortunately as they seem to think GNH is going to climb back to it's old high.
With 115 M shares oustanding, 1.5 million ounces is the way to save this deposit and the share price and I believe that is unattainable with the current metres drilled and tonnage going into the Report.
At best case scenario GNH would be worth $75 million dollars at $50 inst. per oz as they will not get a premium for their ounces for that small an amount.
So if the company manages to not dilute at all prior to the 43-101 which still has no date on it you could be looking at a
.60 cent share price.
While that would not be a bad investment at these prices I dont even think 1.2 million ounces will be proven up which would give you less inst. value per oz and a smaller market capitalization or closer to a
.40 cent share price.
Clearly investors here would rather turn a blind eye to the facts though and are going to be naive enough to think the company wont finance until their down to their last $500,000 dollars and some are willing to stick with an investment that has a drill program scheduled to only drill 15% of last years amount with gold at record prices.
Im not going to bother these boards anymore as Im being accused of having a short interest apparently which is the stupidest thing Ive heard of although I wish I had put a short on in hindsight at 35 cents.
GNH has found a bottom here and likely will not trail lower but with no near term catalysts currently I cant see the share price performing well till at least this Fall which is alot of opportunity cost in other stocks. Why not jump in a company and make 60% for a change and then get back 1.5 times the GNH shares at close to the same price?
I'm not bashing I'm just being honest and while GNH does have gold I would be surprised if their next financing isn't below the price of the last one and if that's the case you better hope the new drills with that PP deliver something because otherwise this is a sinking ship.