Overview New Top Pick
New Top Pick
Mine_Profs_Micro Cap Stock Picks
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High Desert Gold ( HDG ) Toronto
Overview
High Desert Gold Corporation is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver in Mexico and the United States. HDG has a number of wholly owned exploration properties in well-mineralized but relatively unexplored areas of Mexico and the United States including strategic land holdings near two world class deposits; i.e. La Herradura (gold-silver) and Tyrone (copper - gold). The Company's focus is the Canasta Dorada Gold Project (near Caborca, Mexico) in northern Sonora, Mexico and Gold Lake Copper - Gold Project (near Silver City, New Mexico) where exploration has identified several promising prospects.
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Principal Reason to Buy
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This has to be the perfect Ben Graham value stock.
Company has $11.5 million cash in the bank.
Shares outstanding 40.5 million.
This equals 28.7 cents cash in the bank for every share outstanding.
The share price is 14 cents.
Therefore the shares sell at 50% discount to its cash in the bank
That means you buy $1 of cash for 50 cents.
You also get a Toronto listed company and many good projects for free.
The company also has great quality management.
This is a safe way to ride this market.
I believe the company is going to buy a property or some type of transaction and this is the reason for the discount. I suspect new the property will have substantial reserve potential and maybe a producer. In this market they will get a good property at a good price.
In 30 years of investing, I have never seen a company sell at 50% discount to cash in the bank. This is an incredible opportunity that will not last long.
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Key Qualified Management with Proven Track Record
Ralph Fitch
President, CEO and Director
Mr. Fitch, the founder of South American Silver Corp., High Desert Gold and General Minerals Corporation, is a creative geologist with over forty years of international exploration management and field experience. His prior positions included Chief Geologist (Worldwide) and Manager of United States Exploration for the Chevron Minerals Group. His broad exploration experience includes living and exploring in the British Isles, Australia, West Africa (Liberia), South Africa and the United States, as well as extensive exploration experience in South America.
Mr. Fitch was awarded the Chevron Chairman’s Award for his part in the discovery of the Ujina ore body at the Collahuasi copper porphyry project in northern Chile, for which he initiated the use of, interactively processed and interpreted the Landsat/Spot satellite images. He also directed the ore reserve estimations for the Lisheen zinc project in Ireland, another Chevron discovery, and the Stillwater platinum group metals project in Montana while he was Chief Geologist. Chevron’s interests in Collahuasi and Lisheen, which have been developed into mines, were sold for $260 million. Earlier in his career he was involved in the discovery of the mineralization at the Bend and Horseshoe massive sulphides in Wisconsin, the Henkries uranium deposit in the Northern Cape in South Africa, the Coppins Gap Archaen porphyry copper molybdenum deposit in the Pilbara in West Australia, and the Pah-My-Yah diamond field in Liberia. Mr. Fitch received his B.Sc. (Special) Honours Degree in Geology from the Imperial College of Science and Technology, London in 1965.
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Major Insiders
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Libra Advisors, Llc
Latest Filing Date: October 19, 2007
Direct Ownership
Common Shares 4,000,000 = 10% company.
Warrants 2,000,000
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Sprott Resource Corp.
Latest Filing Date: October 24, 2007
Direct Ownership
Common Shares 6,000,000 = 15% of company
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Fitch, Ralph Gordon
Latest Filing Date: June 12, 2008
Direct Ownership
Common Shares 205,000
Options 530,000
Restricted Share Awards 1,400,000
Warrants 102,500
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Check its web site.
https://www.highdesertgoldcorp.com