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Granada Gold Mine Inc. V.GGM

Alternate Symbol(s):  GBBFF

Granada Gold Mine Inc. is a Canada-based junior mining and exploration company. The Company is engaged in developing and exploring its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, which is adjacent to the Cadillac Break. The Granada Gold Property is located five kilometers south of the mining community of Rouyn-Noranda, Quebec. The property includes the former Granada Gold underground mine. The Company owns about 14.73 square kilometers of land in a combination of mining leases and claims. This near-surface and underground gold deposit, with the added discovery of a Rubidium (alkali metal) deposit, is located 15 minutes from Rouyn-Noranda, Quebec.


TSXV:GGM - Post by User

Bullboard Posts
Post by taylor1988on Sep 19, 2011 5:59pm
466 Views
Post# 19059030

GBB

GBBWhat part of this is pumping? Granada has 2.5 - 3 million ounces of gold. The average company with that amount of gold has either been acquired or trades at a value of $50 - $60 / oz or more. The fact that management is looking for more than that per ounce is even more encouraging. There's nothing wrong with Quebec as a mining jurisdiction. Companies in worse jurisdictions with lower grade results have operated with gold at less than $1,000 oz successfully. Granada is currently worth less than $20 / oz based on 2.5 million ounces of gold, a low estimate for their current 43-101 being prepared. The company that was acquired today actually has the exact same drill results as us and has plans to mill their ore at 0.6 - 0.7 g/t au in Mexico from their PEA but unlike them we have a bulk sample of 30,000 tonnes showing 1.6 - 1.75 g/t au. The company that was acquired today They were acquired for more than 5 X our value at $275 million dollars with less ounces than us in a less favourable mining jurisdiction. What about that can be disputed? If you can make a case that GBB has less than 1.5 million ounces you may have a point, or if you can make the case that Mexico is a better mining jurisdiction than Quebec? But I don't think either points are debatable. We've got a structure spanning a minimum 1.2 km by 400 metres with holes proven to at least 300 metres in some areas vertical and an average closer to the 175 - 225 m range. Once again if you can show me a better valuation for gold in places other than Chile I'd be impressed but I can't find any.
Bullboard Posts