GREY:GPLDF - Post by User
Post by
investor2003on Apr 25, 2007 11:13am
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Post# 12671337
CGK: 30% cheaper & 80% more output than GPR
CGK: 30% cheaper & 80% more output than GPRwith 3.6 million oz. of Ag. Eq in fiscal 2007, with an operating mine, insiders buying by the truck for the past year at slightly lower prices, all for 85 million $ US market cap, and extremely low capital costs, and profitable,
is it to good to be true ?
Management is very strong at CGK.to and Jennings have a 1.30$ 12 month target which is very easily obtainable.
(https://www.goldhawkresources.com/en/reports/Gold%20Hawk%20-%20Jennings%20Report%20-%20Nov.%202006.pdf)
They have official total P+P and Inferred of 100 Million oz. Ag.Eq.
The ONLY problem (which isn't one) is the fact that this is an underground mine and they can only transfer 1-2 years of inferred resources to P&P as they go along but the mine is without a doubt going to be going for about 10 years. The grades are outstanding, very high (6 g/t Au, 500 g/t Ag). They have hedged also at high prices their portion of Zinc and Lead recently. Also, they are doing 600 tpd and will increase to 900 tpd and maybe more in the not too distant future.
If you don't take my word for it, check out John Embry's latest comments:
https://www.sprott.com/pdf/investorsdigest/investors_digest_jan_05_2007.pdf
cheers and good homework
n.b. GPR will probably be there in 2 years, i.e. at 3.6 Million oz. per year. However, GPR can probably grow their reserve more than CGK. CGK, however, allready have 100 Million with probably 75-90 Million fully mineable which is more than excellent and ALLREADY KNOWN.