Stockwatch - Gold Summary for July 12, 2018
Gold Summary for July 12, 2018
2018-07-12 19:44 ET - Market Summary
by Stockwatch Business Reporter
Barry Brown's GGX Gold Corp. (GGX), down one-half cent to 7.5 cents on 200,000 shares, has received assays of up to 10.3 grams of gold, 1.09 grams of silver and 0.24 gram of tellurium per tonne over 2.35 metres from winter and spring drilling at the COD vein on its Gold Drop property near Greenwood in British Columbia. A second hole yielded 2.12 grams of gold, 14.15 grams of silver and 13.6 grams of tellurium per tonne over 2.85 metres, with seven of the 10 holes producing precious metals. This is the fourth batch of assays from the 2018 drill program. The best results came in the first few holes this year, with one producing 14.62 grams of gold, 150.2 grams of silver and 102 grams of tellurium per tonne over 2.1 metres.
Gold Drop had been mined intermittently from just after the First World War until the 1980s, although most of the production occurred before 1942. (Mining seems a grandiose term for an operation that yielded barely 7,500 tonnes at 5.2 grams of gold and 93.4 grams of silver during a quarter of a century.)
Shareholders of GGX have not had a good spring, as the company's stock slumped from 14 cents in mid-May to just seven cents recently. Still, investors have little to quibble about the remuneration paid to Mr. Brown. A Vancouver resident, he arrived as president and CEO in the fall of 2016 and pulls in a modest $48,000 per year in salary. He is also the president and CEO of Fort St. James Nickel Corp. (FTJ.H: $0.30), which paid him $30,000 last year. In addition, he undoubtedly receives pay from his private management company, Barry Developments Ltd