RE: NEWS -JV - $3 Million Drilling Monte ChristoNew J/V at Monte Cristo is the first but not the last of the J/Vs that Gold Summit (GSM) will sign up in Nevada.
About 2 months ago I wrote here that GSM had been approached by various companies to do J/Vs on GSM's properties. It looks like progress has been made in this. The J/V at Monte Cristo is the first and most important of these J/Vs but not the last one.
In fact, GSM is employing the joint venture business model that has other companies spending their money, not GSM's money, to further exploration progress. This minimizes dilution and raises the odds for success. This model has been employed by other fine exploration companies such as Auex (Ron Parratt) and Miranda Exploration (Ken Cunningham), so GSM and its president Tony Taylor are in fine company. GSM needs to sign up more J/Vs, and rumor has it that another J/V may be finalized shortly. It looks like GSM is doing the right things that will ultimately increase shareholder value (the stock price).