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Golconda Gold Ltd V.GG

Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a gold producer and explorer with mining operations and exploration tenements in South Africa and the United States. Its principal business activities are the exploration, development, and operation of gold mining properties. It operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa), through subsidiaries located in Mauritius and South Africa; and a mine and processing infrastructure located in the United States of America (the Summit Property). Its Galaxy gold property is situated about eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers 58.6 square kilometers and is part of the Barberton Greenstone Belt.


TSXV:GG - Post by User

Comment by murrpacon Nov 17, 2020 11:59am
90 Views
Post# 31914591

RE:any expectations on financials tomorrow. less covid downtime

RE:any expectations on financials tomorrow. less covid downtimeAgreed less downtime but is production still limited? Either way should generate more FCF this Q. With $0.05 warrants expired we can expect another $1.55MMish cash. $0.15 debentures due could be excellerated tomorrow if we close above $0.195 I believe (1.3 * $0.15? for 10 days). My concern is the $6+MM Royalties outstanding to the government that was supposed to be paid off in 2020 ($0.5+MM/month). But as Ravi has said they are focused on reducing debt and with gold prices they don't seem overly concerned. Hoping for solid numbers. GLTA       
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