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Golconda Gold Ltd V.GG

Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a Canada-based un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. The Company operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing gold mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa) through subsidiaries located in South Africa, and a gold and silver mine and processing infrastructure located in the United States of America (the Summit Property) that is in care and maintenance. The Galaxy gold is situated approximately eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers approximately 58.6 square kilometers (km2) is part of the prolific Barberton Greenstone Belt.


TSXV:GG - Post by User

Bullboard Posts
Comment by Stoploss1on Apr 07, 2009 1:42pm
248 Views
Post# 15902540

RE: Nervous nellies-myself included

RE: Nervous nellies-myself includedDon't worry, there is nothing too be nervous about.  I sold 400,000 shares today to raise some money to buy DMM stocks. I am not an insider nor do I have any information about GG feasibility report.

DMM will start commissioning a 100,000 oz/yr plant (Zaruma) in a week or so.  DMM will also be expanding its Zaruma plant from 100,000 to 200,000 oz in a year or so.  Also another 100,000 oz/yr plant, called Jerulseum plant, will constructed soon and in production late 2010. In 2011, construction of its Dynasty plant will start.  DMM has very high grade ore...approx 13 g/t  which makes its production cost about $200 per oz.  This stock is a 10 to 20 bagger....just like GG.

I am still holding over 750,000 shares of GG.  I believe gold will be in the 4 digits soon and all gold stocks will be doing great.  I sold some GG shares just to spread the risk a bit.

Again, no need to be nervous.
Bullboard Posts