RE:RE:RE:GSTM is looking good for next year Countrygent wrote: GSTM might be a great play, might not.
The two listings could hardly be more different. TUD a mature drilling campaign with tens (hundreds?) of millions spent proving up a massive gold deposit heading towards a preliminary feasability study.
GSTM a is a prospect - greenfields geology heading towards preliminary drilling, maybe not until 2024 if next year is just field and surface work.
Personally I might bow out of GSTM, keep it on a watch list as it progresses, and put the proceeds back into TUD or TUO in the meantime. Because I don't particularly like greenfields explorers no matter how promising the land position, unless they have an absolute blinking arrow of a contiguous deposit on adjacent ground on strike into their land, OR, surface sampling or trenching or some early drilling has very good indicators of a discovery.
I know there is a different strategy of accumulating multiple positions in greenfields plays with the idea maybe one in ten or so might be a home run, and by being quick to trade and buy on top of preliminary discovery one can more than pay for the dusters and duds. Personally, I'll give up the early jump, and bet on post-discovery plays when they suffer undervaluation - there always seems to be some moment of delay or market downturn when excellent properties are deeply undervalued - after initial excitement wears out, hot money has gone, the grumbling and facing dilution and financing of the long slog towards proving up a mine begins. To me that's the sweet spot - especially where management can articulate a concenptual goal - open pit, block cave, traditional stope mine, whatever, where we can crunch some hypothetical numbers and get a better handle on potential economics.
Nothing wring with greenfields speculation, but it is a completely different game.
cg
I totally agree with this. I don't see anything other than pain in holding GSTM at the moment. Because, it can only dilute from this point and go down big time before it produce any good news to get attention. It can be in the watch list, but not got to keep in the portfolio at the moment.