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Goldsource Mines Inc V.GXS

Goldsource Mines Inc. is a Canada-based resource company, which is engaged in exploration activities. The Company is focused on the Eagle Mountain Gold Project (Eagle Mountain) for which it has a 100% interest in the Eagle Mountain Prospecting License (EMPL) and the Kilroy Mining Permit (collectively, the Property). The Property is located approximately seven kilometers (km) south of Mahdia Township (population approximately 3000). Mahdia Township can be accessed by road from Georgetown, a driving distance of approximately 325 km, or via air by a commercial flight. The Property consists of an area of approximately 5,050 hectares (ha) (12,480 acres) in central Guyana, South America. 4,784 hectares (11,820 acres) of the Eagle Mountain Property relate to the EMPL while 266 ha (660 acres) relate to the Medium Scale Mining Permit held by Kilroy Mining Inc. (Kilroy), on which the Company has a long-term lease with a 2% net smelter return royalty.


TSXV:GXS - Post by User

Bullboard Posts
Comment by Grizzly44on May 01, 2008 2:44am
203 Views
Post# 15026061

RE: If it goes higher tomorrow

RE: If it goes higher tomorrowI don't know where you are coming from. They don't need the money but you are predicting  a financing. They have enough cash to drill it out and do a  43 101.  The Geos I talk to say that it is very unlikely that the seem is NOT consistent between the two drill holes. Where are you getting your information to short it? Good luck - it is too large a potential to short, but go for it pal!
Do the math on a 2 km circle, 25 meters in thickness at $50 a ton (1 ton = 29 cu ft) . Then take about 25% for an in situ value. I have done it already. A couple of other adjustments required!
Another thing - the railway runs over the property, roads in place, no political issues, mining friendly.
Do you still want to short BIG GUY? A long only loses what he has invested. A shorter loses forever!
The potential is a grand a share, the reality is way less.
Good luck to all shorts -- better luck to all longs!
Regards,
The Grizz
Bullboard Posts