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Granada Gold Mine Inc V.GGM

Alternate Symbol(s):  GBBFF

Granada Gold Mine Inc. is a Canada-based junior natural resource company. The principal business of the Company is the acquisition, exploration and development of mineral property interests. The Company is engaged in developing and exploring its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, which is adjacent to the Cadillac Break. The Granada Gold Property is located five kilometers south of the mining community of Rouyn-Noranda, Quebec. The property includes the former Granada Gold underground mine. The Company owns about 14.73 square kilometers of land from a combination of mining leases and claims. The Granada deposit is a quartz-vein mesothermal gold deposit hosted by late Archean Timiskaming sedimentary rock and younger syenite porphyry dykes.


TSXV:GGM - Post by User

Bullboard Posts
Post by skipjackmackon Nov 25, 2011 12:35pm
443 Views
Post# 19267546

Fund's perspective...

Fund's perspective......yesterday I spoke with someone I know that runs a closed fund that holds some GBB. They are still interested to buy more, but according to them, it'll take more than the end of tax selling to tempt them to add. Doh...I was hoping they'd be buying now. Anyway...it's the next bit, that maybe of more interest...one of them spoke with IR earlier this week...so this is secondhand info...they are pushing for a "strategic review" and have suggested a halt to all spend except on the 43-101 and getting the permits for the bulk sample program...they just don't reckon the market is going to value any drilling GBB does, not even repeating the historic hole...and they want to see signs that GBB will get in shape to stand on its own two feet until the market wakes up. Thought folk may be interested to hear a fund's perspective. It was them that told me to go look at Exeter Resource (XRC/XRA) some time ago: 45million oz Au equivalent, $75m cash and a market cap of $250m(!)...okay, it's in Chile not N.Am, but either the market is v v v dislocated or GBB is worth around $30m if it has 5m oz...point is, oz in the ground are important, but not as important right now as generating your own cashflow. Comments??? thanks, sjm
Bullboard Posts