Brien Lundin Comments....
Lundin comments on Galway Resources
2012-12-14 22:03 ET - In the News
Brien Lundin, in the November, 2012, edition of the Gold Newsletter, comments on Galway Resources Ltd., recently $2.23. Mr. Lundin said buy six times between August, 2006, and December, 2011, at prices ranging from 55 cents to $1.29. Assuming an investment of $1,000 for each buy, the $6,000 position is now worth $14,390. Galway has accepted a takeover of $2.05 a share from Eike Batista's AUX. Since the company announced the deal, its share price has climbed from $1.59. As well as cash, Galway shareholders will receive one share in a new company, which will hold the Victorio tungsten-molybdenum project in New Mexico, and 0.9 share in another new company, which will hold the Vetas gold project in Colombia. Mr. Lundin says you could use the cash that you will receive from this deal to buy shares in his other recommendations. The editor also suggests you keep the Vetas spinout and Victorio spinout shares. Mr. Lundin likes the Vetas project. Galway continues to drill there, in hopes of proving there is a mineralized trend connecting the Vetas deposit to the neighbouring CB Gold property deposit. The gold bug says he will look into Victorio and comment on it later. For now, he says enjoy your Galway gains.