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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
Comment by skipjackmackon Nov 28, 2011 11:02am
294 Views
Post# 19271001

RE: RE: XRC

RE: RE: XRCthanks to adi66 and steadfast for picking up the XRC comparison...i accept that XRC's environment is different, but the majors are operating successfully in those kind of environments. And agreed, the capex would be different given the huge by-product component to their resource, but i'd argue that it won't be soooo different as to overcome the valuation of their Au eq oz at sub-$10(!!) per oz. So the real take-home message from the comparison is surely that Au oz eq in the ground are just NOT valued by the market...they're only valued by the company doing the taking over. So what happens next if that's still the case after GBB has used up all its cash proving more oz that the market doesn't care about and no one has made an offer...simple...CHEAP DILUTION...ouch. Anyone still want to know why there's insufficient buying to soak up even this low volume retail tax loss selling? There's your answer: 43-101 is a year late, 0.12 warrants, cash is low and, imo, CHEAP DILUTION is expected...not a healthy picture. So surely the aim in this environment has to be for GBB to prove JUST ENOUGH oz to make it economically feasible and raise JUST ENOUGH cash to get into production...and let production pay for the rest of the drilling. Who out there honestly doesn't think GBB has enough oz already to get a low-grade, open pit operation going? And the bulk sample is a sensible place to start...I sure hope GBB can adapt to the situation...just sayin'...sjm
Bullboard Posts